Time Warner Inc. (TWX) Sets New 1-Year High at $80.50
Shares of Time Warner Inc. (NYSE:TWX) reached a new 52-week high on Thursday . The company traded as high as $80.50 and last traded at $80.37, with a volume of 1,514,108 shares changing hands. The stock had previously closed at $79.86.
A number of analysts recently weighed in on the company. KeyCorp downgraded Time Warner to an “overweight” rating in a report on Monday, May 2nd. They noted that the move was a valuation call. Pacific Crest restated a “hold” rating on shares of Time Warner in a report on Sunday, May 22nd. Bank of America Corp. reiterated a “hold” rating on shares of Time Warner in a report on Tuesday, July 12th. Albert Fried & Company reiterated a “buy” rating and set a $90.00 price target on shares of Time Warner in a report on Wednesday, August 3rd. Finally, Jefferies Group increased their price target on Time Warner from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $85.96.
The firm has a market capitalization of $62.52 billion and a price-to-earnings ratio of 15.99. The firm has a 50 day moving average of $76.39 and a 200-day moving average of $72.92.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.13. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7.12 billion. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. On average, analysts anticipate that Time Warner Inc. will post $5.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.4025 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.61 annualized dividend and a yield of 2.02%.
In other Time Warner news, Director Kenneth J. Novack sold 8,400 shares of Time Warner 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 completion of the transaction, the director now directly owns 9,031 shares of the company’s stock, valued at approximately $673,802.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary L. Ginsberg sold 3,000 shares of Time Warner 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 transaction, the executive vice president now directly owns 22,232 shares of the company’s stock, valued at $1,684,963.28. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of the company. American International Group Inc. boosted its position in shares of Time Warner by 6.6% in the fourth quarter. American International Group Inc. now owns 366,860 shares of the media conglomerate’s stock worth $23,724,000 after buying an additional 22,656 shares during the last quarter. Nicholas Co. Inc. WI boosted its position in shares of Time Warner by 3.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,763,070 shares of the media conglomerate’s stock worth $114,017,000 after buying an additional 55,760 shares during the last quarter. Airain ltd boosted its position in shares of Time Warner by 163.8% in the fourth quarter. Airain ltd now owns 238,108 shares of the media conglomerate’s stock worth $15,398,000 after buying an additional 147,847 shares during the last quarter. KBC Group NV boosted its position in shares of Time Warner by 11.2% in the fourth quarter. KBC Group NV now owns 242,467 shares of the media conglomerate’s stock worth $15,680,000 after buying an additional 24,415 shares during the last quarter. Finally, Morningstar Investment Services LLC boosted its position in shares of Time Warner by 37.7% in the fourth quarter. Morningstar Investment Services LLC now owns 307,285 shares of the media conglomerate’s stock worth $19,872,000 after buying an additional 84,156 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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