Investors Buy Time Warner Inc. (TWX) on Weakness
Investors bought shares of Time Warner Inc. (NYSE:TWX) on weakness during trading on Thursday. $65.76 million flowed into the stock on the tick-up and $37.06 million flowed out of the stock on the tick-down, for a money net flow of $28.70 million into the stock. Of all companies tracked, Time Warner had the 14th highest net in-flow for the day. Time Warner traded down ($0.22) for the day and closed at $80.83
A number of equities analysts recently issued reports on the stock. Pacific Crest reiterated a “hold” rating on shares of Time Warner in a research report on Sunday, May 22nd. Nomura upped their price target on shares of Time Warner from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, May 5th. FBR & Co downgraded shares of Time Warner from an “outperform” rating to a “market perform” rating and set a $81.00 price target for the company. in a report on Tuesday, July 26th. MKM Partners upped their price target on shares of Time Warner from $78.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, April 28th. Finally, Goldman Sachs Group Inc. upped their price target on shares of Time Warner from $81.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, May 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $86.24.
The company has a market capitalization of $62.85 billion and a P/E ratio of 16.08. The stock’s 50-day moving average price is $78.24 and its 200 day moving average price is $73.40.
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 analysts’ consensus estimates of $1.16 by $0.13. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.12 billion. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. Equities analysts anticipate that Time Warner Inc. will post $5.42 EPS for the current 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 dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, August 29th.
In related news, EVP Gary L. Ginsberg sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 22,232 shares of the company’s stock, valued at approximately $1,684,963.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth J. Novack sold 8,400 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $74.61, for a total value of $626,724.00. Following the transaction, the director now directly owns 9,031 shares in the company, valued at $673,802.91. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Victory Capital Management Inc. raised its position 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 during the last quarter. Suntrust Banks Inc. raised its position 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 during the last quarter. Bridgewater Associates LP acquired a new position in Time Warner during the fourth quarter worth $3,845,000. Airain ltd raised its position 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 last quarter. Finally, KBC Group NV raised its position 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 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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