Time Warner Inc. (TWX) Hits New 1-Year High at $80.50
Time Warner Inc. (NYSE:TWX) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $80.50 and last traded at $80.37, with a volume of 1,514,108 shares. The stock had previously closed at $79.86.
TWX has been the topic of several recent analyst reports. Brean Capital restated a “buy” rating on shares of Time Warner in a report on Tuesday, July 26th. Vetr cut shares of Time Warner from a “strong-buy” rating to a “buy” rating and set a $84.06 target price on the stock. in a report on Thursday, July 7th. Citigroup Inc. raised their target price on shares of Time Warner from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, April 19th. Wunderlich cut their target price on shares of Time Warner from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Time Warner in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $85.96.
The stock’s 50-day moving average price is $76.83 and its 200 day moving average price is $73.05. The company has a market capitalization of $62.66 billion and a P/E ratio of 16.03.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. Analysts predict that Time Warner Inc. will post $5.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, August 29th.
In other Time Warner news, EVP Gary L. Ginsberg sold 3,000 shares of the 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 completion of the sale, the executive vice president now directly owns 22,232 shares in the company, valued at $1,684,963.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kenneth J. Novack sold 15,706 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $75.48, for a total value of $1,185,488.88. Following the completion of the sale, the director now owns 17,431 shares of the company’s stock, valued at $1,315,691.88. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Bridgewater Associates LP acquired a new stake in Time Warner during the fourth quarter worth approximately $3,845,000. American International Group Inc. boosted its stake in 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 period. Nicholas Co. Inc. WI boosted its stake in 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 period. Airain ltd boosted its stake in 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 period. Finally, KBC Group NV boosted its stake in 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 period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.