Investors Buy Time Warner Inc. (TWX) on Weakness
Traders purchased shares of Time Warner Inc. (NYSE:TWX) on weakness during trading on Thursday. $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 48th highest net in-flow for the day. Time Warner traded down ($0.25) for the day and closed at $78.16
Several equities research analysts have issued reports on the company. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a report on Friday, June 17th. Loop Capital restated a “buy” rating and set a $96.00 price objective on shares of Time Warner in a report on Wednesday, August 17th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Time Warner in a research report on Wednesday, July 6th. Deutsche Bank AG lifted their target price on Time Warner from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Royal Bank Of Canada lifted their target price on Time Warner from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-seven have given a buy rating to the company. Time Warner presently has a consensus rating of “Buy” and a consensus price target of $86.28.
The firm has a market capitalization of $60.80 billion and a price-to-earnings ratio of 15.55. The firm has a 50-day moving average of $78.94 and a 200-day moving average of $74.24.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.13. The business 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 period in the previous year, the business posted $1.25 EPS. Equities analysts forecast that Time Warner Inc. will post $5.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, August 29th.
In related news, Director Kenneth J. Novack sold 15,706 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $75.48, for a total transaction of $1,185,488.88. Following the sale, the director now owns 17,431 shares of the company’s stock, valued at approximately $1,315,691.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth J. Novack sold 8,400 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $74.61, for a total value of $626,724.00. Following the sale, the director now directly owns 9,031 shares in the company, valued at approximately $673,802.91. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Time Warner stock. American International Group Inc. boosted its stake in shares of Time Warner Inc. (NYSE:TWX) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 366,860 shares of the media conglomerate’s stock after buying an additional 22,656 shares during the period. American International Group Inc.’s holdings in Time Warner were worth $23,724,000 at the end of the most recent 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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