Traders Buy Time Warner Inc. (TWX) on Weakness
Traders purchased shares of Time Warner Inc. (NYSE:TWX) on weakness during trading hours on Friday. $47.84 million flowed into the stock on the tick-up and $27.99 million flowed out of the stock on the tick-down, for a money net flow of $19.85 million into the stock. Of all equities tracked, Time Warner had the 30th highest net in-flow for the day. Time Warner traded down ($0.25) for the day and closed at $78.16
A number of equities research analysts recently weighed in on TWX shares. Moffett Nathanson restated a “buy” rating and issued a $87.00 target price on shares of Time Warner in a report on Thursday, July 7th. Brean Capital started coverage on shares of Time Warner in a report on Thursday, July 7th. They issued a “buy” rating and a $90.00 target price on the stock. Goldman Sachs Group Inc. restated a “buy” rating on shares of Time Warner in a report on Wednesday, July 6th. Albert Fried & Company restated a “buy” rating and issued a $90.00 target price on shares of Time Warner in a report on Thursday, May 26th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Time Warner in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Time Warner presently has an average rating of “Buy” and a consensus price target of $86.28.
The stock has a market cap of $61.08 billion and a PE ratio of 15.62. The stock’s 50-day moving average price is $78.95 and its 200-day moving average price is $74.24.
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 Zacks’ consensus estimate of $1.16 by $0.13. During the same period last year, the company earned $1.25 earnings per share. The firm earned $7 billion during the quarter, compared to analysts’ expectations of $7.12 billion. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts expect that Time Warner Inc. will post $5.42 EPS for the current fiscal year.
The company 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 dividend on an annualized basis and a dividend yield of 2.05%.
In other news, Director Kenneth J. Novack sold 15,706 shares of the stock in a transaction on 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 directly owns 17,431 shares of the company’s stock, valued at $1,315,691.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth J. Novack sold 8,400 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $74.61, for a total transaction of $626,724.00. Following the completion of the sale, the director now directly owns 9,031 shares of the company’s stock, valued at $673,802.91. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Time Warner stock. Schwab Charles Investment Management Inc. increased its position in Time Warner Inc. (NYSE:TWX) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,379,485 shares of the media conglomerate’s stock after buying an additional 104,773 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.30% of Time Warner worth $153,882,000 at the end of the most recent reporting 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.
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