Traders Buy Time Warner Inc. (TWX) on Weakness
Traders bought shares of Time Warner Inc. (NYSE:TWX) on weakness during trading on Tuesday. $61.16 million flowed into the stock on the tick-up and $46.55 million flowed out of the stock on the tick-down, for a money net flow of $14.61 million into the stock. Of all companies tracked, Time Warner had the 19th highest net in-flow for the day. Time Warner traded down ($0.12) for the day and closed at $78.26
A number of analysts have issued reports on the company. Bank of America Corp. reaffirmed a “hold” rating on shares of Time Warner in a research note on Tuesday. Drexel Hamilton reissued a “buy” rating on shares of Time Warner in a research report on Tuesday. Wells Fargo & Co. downgraded Time Warner to a “hold” rating in a research report on Monday. Vetr downgraded Time Warner from a “strong-buy” rating to a “buy” rating and set a $84.06 target price on the stock. in a research report on Thursday, July 7th. Finally, Moffett Nathanson reissued a “buy” rating and set a $87.00 target price on shares of Time Warner in a research report on Thursday, July 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.69.
The firm’s 50-day moving average is $74.09 and its 200-day moving average is $71.51. The stock has a market cap of $61.54 billion and a price-to-earnings ratio of 15.70.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, May 4th. The media conglomerate reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.19. The firm earned $7.30 billion during the quarter, compared to analysts’ expectations of $7.33 billion. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. Analysts expect that Time Warner Inc. will post $5.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Thursday, May 26th.
In related news, EVP Gary L. Ginsberg sold 3,000 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $75.79, for a total value of $227,370.00. Following the transaction, the executive vice president now owns 22,232 shares in the company, valued at approximately $1,684,963.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth J. Novack sold 8,400 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $74.61, for a total value of $626,724.00. Following the completion of the transaction, the director now owns 9,031 shares in the company, valued at approximately $673,802.91. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Time Warner by 1.5% in the fourth quarter. Brighton Jones LLC now owns 15,840 shares of the media conglomerate’s stock valued at $1,024,000 after buying an additional 237 shares during the period. Auxier Asset Management boosted its position in Time Warner by 0.6% in the fourth quarter. Auxier Asset Management now owns 16,876 shares of the media conglomerate’s stock valued at $1,091,000 after buying an additional 100 shares during the last quarter. MetLife Securities Inc boosted its position in Time Warner by 40.5% in the fourth quarter. MetLife Securities Inc now owns 17,151 shares of the media conglomerate’s stock valued at $1,109,000 after buying an additional 4,947 shares during the last quarter. Cowen Group Inc. acquired a new position in Time Warner during the fourth quarter valued at about $1,122,000. Finally, Ray Gerald L & Associates Ltd. boosted its position in Time Warner by 5.3% in the fourth quarter. Ray Gerald L & Associates Ltd. now owns 17,839 shares of the media conglomerate’s stock valued at $1,154,000 after buying an additional 905 shares during the last quarter.
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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