Time Inc. (TIME) Given Hold Rating at Wells Fargo & Co.
Other research analysts also recently issued research reports about the stock. Citigroup Inc. dropped their target price on shares of Time from $18.00 to $17.00 and set a buy rating on the stock in a report on Tuesday, September 27th. Zacks Investment Research downgraded shares of Time from a buy rating to a hold rating in a report on Saturday, November 5th. Finally, Morgan Stanley set a $15.00 price objective on shares of Time and gave the stock a hold rating in a report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $16.67.
Shares of Time (NYSE:TIME) traded up 3.12% during trading on Monday, reaching $16.50. 1,745,615 shares of the company’s stock were exchanged. Time has a 52-week low of $12.23 and a 52-week high of $17.66. The company has a 50 day moving average price of $13.37 and a 200-day moving average price of $14.83. The company’s market capitalization is $1.63 billion.
Time (NYSE:TIME) last announced its earnings results on Thursday, November 3rd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $750 million for the quarter, compared to the consensus estimate of $770.57 million. Time had a negative net margin of 2.82% and a positive return on equity of 6.31%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. On average, equities analysts forecast that Time will post $1.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.19 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a yield of 5.59%. Time’s dividend payout ratio (DPR) is presently -84.44%.
Institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY raised its position in Time by 3.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 173,912 shares of the company’s stock worth $2,685,000 after buying an additional 5,114 shares during the period. Amalgamated Bank raised its position in Time by 4.5% in the second quarter. Amalgamated Bank now owns 12,774 shares of the company’s stock worth $177,000 after buying an additional 545 shares during the period. Kleinwort Benson Investors Dublin Ltd purchased a new position in Time during the second quarter worth approximately $1,447,000. Chicago Equity Partners LLC purchased a new position in Time during the second quarter worth approximately $1,374,000. Finally, Advance Capital I Inc. purchased a new position in Time during the second quarter worth approximately $211,000. Hedge funds and other institutional investors own 92.58% of the company’s stock.
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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