Traders Buy Time Warner Inc. (TWX) on Weakness
Investors bought shares of Time Warner Inc. (NYSE:TWX) on weakness during trading 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 stocks 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
Several equities analysts have weighed in on the stock. Pacific Crest reiterated a “hold” rating on shares of Time Warner in a research report on Sunday, May 22nd. FBR & Co cut shares of Time Warner from an “outperform” rating to a “market perform” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, July 26th. RBC Capital Markets reiterated an “outperform” rating and set a $95.00 price objective (up from $92.00) on shares of Time Warner in a research report on Thursday, August 4th. Wells Fargo & Co. cut shares of Time Warner to a “hold” rating in a research report on Monday, July 11th. Finally, Zacks Investment Research upgraded shares of Time Warner from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-seven have assigned a buy rating to the company. Time Warner currently has a consensus rating of “Buy” and a consensus target price of $86.28.
The stock has a 50-day moving average price of $78.95 and a 200 day moving average price of $74.24. The company has a market cap of $61.08 billion and a P/E ratio of 15.62.
Time Warner (NYSE:TWX) last posted its earnings results 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 analyst estimates of $7.12 billion. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. Equities research analysts anticipate that Time Warner Inc. will post $5.42 EPS for the current fiscal year.
The business also recently announced 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 2.05%. The ex-dividend date of this dividend is Monday, August 29th.
In related news, insider Karen Magee sold 14,240 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $79.97, for a total transaction of $1,138,772.80. Following the transaction, the insider now directly owns 7,461 shares of the company’s stock, valued at $596,656.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth J. Novack sold 8,400 shares of the firm’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $74.61, for a total transaction 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.
A hedge fund recently raised its stake in Time Warner stock. Schwab Charles Investment Management Inc. raised its position in Time Warner Inc. (NYSE:TWX) by 4.6% during the fourth quarter, according to its most recent 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 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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