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 companies 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
TWX has been the topic of a number of recent analyst reports. Brean Capital reissued a “buy” rating and set a $90.00 price target on shares of Time Warner in a research note on Friday, August 5th. Wedbush increased their target price on Time Warner from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Guggenheim reaffirmed a “buy” rating and issued a $86.00 target price on shares of Time Warner in a research report on Friday, May 6th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Time Warner in a research report on Wednesday, July 6th. Finally, Vetr raised Time Warner from a “buy” rating to a “strong-buy” rating and set a $82.87 target price on the stock in a research report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $86.28.
The firm has a market cap of $61.08 billion and a P/E ratio of 15.62. The firm’s 50 day moving average price is $78.95 and its 200-day moving average price is $74.24.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. The firm earned $7 billion during the quarter, compared to the consensus estimate of $7.12 billion. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. Equities analysts forecast that Time Warner Inc. will post $5.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.4025 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.61 annualized dividend and a dividend yield of 2.05%.
In other news, Director Kenneth J. Novack sold 8,400 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $74.61, for a total transaction of $626,724.00. Following the transaction, the director now owns 9,031 shares in the company, valued at approximately $673,802.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Karen Magee sold 14,240 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $79.97, for a total transaction of $1,138,772.80. Following the transaction, the insider now owns 7,461 shares in the company, valued at approximately $596,656.17. 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 shares of Time Warner Inc. (NYSE:TWX) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 about 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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