Traders Sell Time Warner Inc. (TWX) on Strength (TWX)
Investors sold shares of Time Warner Inc. (NYSE:TWX) on strength during trading hours on Wednesday. $49.41 million flowed into the stock on the tick-up and $73.95 million flowed out of the stock on the tick-down, for a money net flow of $24.54 million out of the stock. Of all stocks tracked, Time Warner had the 18th highest net out-flow for the day. Time Warner traded up $0.70 for the day and closed at $79.86
A number of brokerages have issued reports on TWX. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a research report on Friday, June 17th. Drexel Hamilton reissued a “buy” rating on shares of Time Warner in a research report on Thursday, April 14th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Time Warner in a research report on Wednesday, July 6th. Deutsche Bank AG boosted their price objective on shares of Time Warner from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Time Warner from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-six have assigned a buy rating to the company. Time Warner has a consensus rating of “Buy” and a consensus target price of $85.96.
The company has a market capitalization of $62.12 billion and a PE ratio of 15.89. The stock’s 50-day moving average price is $76.39 and its 200 day moving average price is $72.92.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.13. During the same quarter in the previous year, the business posted $1.25 EPS. The company earned $7 billion during the quarter, compared to analyst estimates of $7.12 billion. The company’s revenue was down 5.4% on a year-over-year basis. Equities research analysts forecast that Time Warner Inc. will post $5.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a $0.4025 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.61 annualized dividend and a dividend yield of 2.02%.
In other news, Director Kenneth J. Novack sold 8,400 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $74.61, for a total value of $626,724.00. Following the sale, the director now owns 9,031 shares in the company, valued at $673,802.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gary L. Ginsberg sold 3,000 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $75.79, for a total transaction of $227,370.00. Following the completion of the sale, the executive vice president now owns 22,232 shares in the company, valued at approximately $1,684,963.28. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of the company. Brighton Jones LLC increased its stake in Time Warner by 1.5% in the fourth quarter. Brighton Jones LLC now owns 15,840 shares of the media conglomerate’s stock worth $1,024,000 after buying an additional 237 shares in the last quarter. Victory Capital Management Inc. increased its stake in Time Warner by 109.6% in the fourth quarter. Victory Capital Management Inc. now owns 21,057 shares of the media conglomerate’s stock worth $1,362,000 after buying an additional 11,011 shares in the last quarter. Suntrust Banks Inc. increased its stake in Time Warner by 78.4% in the fourth quarter. Suntrust Banks Inc. now owns 24,734 shares of the media conglomerate’s stock worth $1,598,000 after buying an additional 10,871 shares in the last quarter. Buckingham Capital Management Inc. increased its stake in Time Warner by 4.9% in the third quarter. Buckingham Capital Management Inc. now owns 26,511 shares of the media conglomerate’s stock worth $1,823,000 after buying an additional 1,248 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new stake in Time Warner during the fourth quarter worth $3,845,000.
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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