Zacks Investment Research cut shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a research note published on Thursday morning.

According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “

Several other research firms also recently weighed in on TIME. Citigroup Inc. dropped their target price on shares of Time from $18.00 to $17.00 and set a buy rating for the company in a research report on Tuesday, September 27th. Morgan Stanley set a $15.00 target price on shares of Time and gave the stock a hold rating in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $17.17.

Shares of Time (NYSE:TIME) traded down 2.28% during trading on Thursday, hitting $13.73. The company’s stock had a trading volume of 229,278 shares. The company’s market cap is $1.37 billion. The firm’s 50 day moving average price is $14.47 and its 200-day moving average price is $15.27. Time has a 52 week low of $12.23 and a 52 week high of $20.01.

Time (NYSE:TIME) last released its earnings results on Thursday, August 4th. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The company earned $769 million during the quarter, compared to the consensus estimate of $782.49 million. Time had a negative net margin of 28.56% and a positive return on equity of 6.36%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, analysts predict that Time will post $1.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.41%. The ex-dividend date was Monday, August 29th. Time’s dividend payout ratio (DPR) is -9.42%.

A number of hedge funds and other institutional investors have recently bought and sold shares of TIME. Norges Bank purchased a new position in Time during the fourth quarter valued at approximately $37,570,000. Emerald Acquisition Ltd. purchased a new position in Time during the second quarter valued at approximately $20,028,000. Renaissance Technologies LLC purchased a new position in Time during the first quarter valued at approximately $18,654,000. FMR LLC boosted its position in Time by 177.6% in the second quarter. FMR LLC now owns 1,296,214 shares of the company’s stock valued at $21,336,000 after buying an additional 829,218 shares during the period. Finally, AJO LP purchased a new position in Time during the second quarter valued at approximately $13,336,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About Time

Time Inc is a media company. The Company’s brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as over 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound, and Wallpaper*.

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