Time Warner Inc. (TWX) Sees Large Volume Increase
Time Warner Inc. (NYSE:TWX) shares saw strong trading volume on Thursday . 5,803,526 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 3,873,665 shares.The stock last traded at $76.11 and had previously closed at $74.54.
Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of Time Warner in a research report on Friday, June 17th. Drexel Hamilton reissued a “buy” rating on shares of Time Warner in a research report on Thursday, April 14th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Time Warner in a research report on Wednesday. Royal Bank Of Canada assumed coverage on shares of Time Warner in a research report on Thursday, April 7th. They issued an “outperform” rating and a $92.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating and set a $86.00 price target on shares of Time Warner in a report on Friday, May 6th. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Time Warner presently has a consensus rating of “Buy” and a consensus price target of $84.69.
The stock has a market capitalization of $59.85 billion and a P/E ratio of 15.27. The company has a 50-day moving average of $73.56 and a 200 day moving average of $71.15.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, May 4th. The media conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.19. The company had revenue of $7.30 billion for the quarter, compared to analyst estimates of $7.33 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that Time Warner Inc. will post $5.38 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were given a dividend of $0.4025 per share. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $1.61 annualized dividend and a yield of 2.12%.
In related news, Director Stephen F. Bollenbach sold 8,038 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $74.23, for a total transaction of $596,660.74. Following the transaction, the director now owns 31,297 shares in the company, valued at approximately $2,323,176.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Bewkes sold 272,710 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $74.26, for a total transaction of $20,251,444.60. Following the transaction, the chief executive officer now owns 354,823 shares in the company, valued at approximately $26,349,155.98. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the company. Auxier Asset Management increased its position in shares of Time Warner by 0.6% in the fourth quarter. Auxier Asset Management now owns 16,876 shares of the media conglomerate’s stock valued at $1,091,000 after buying an additional 100 shares during the period. Brighton Jones LLC boosted its stake in shares of Time Warner by 1.5% in the fourth quarter. Brighton Jones LLC now owns 15,840 shares of the media conglomerate’s stock valued at $1,024,000 after buying an additional 237 shares in the last quarter. Columbia Asset Management boosted its stake in shares of Time Warner by 2.9% in the fourth quarter. Columbia Asset Management now owns 20,934 shares of the media conglomerate’s stock valued at $1,354,000 after buying an additional 591 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Time Warner by 1.3% in the fourth quarter. Brown Advisory Inc. now owns 48,135 shares of the media conglomerate’s stock valued at $3,113,000 after buying an additional 598 shares in the last quarter. Finally, Ray Gerald L & Associates Ltd. boosted its stake in shares of Time Warner by 5.3% in the fourth quarter. Ray Gerald L & Associates Ltd. now owns 17,839 shares of the media conglomerate’s stock valued at $1,154,000 after buying an additional 905 shares in 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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