Time Warner Inc. (NYSE:TWX) Downgraded by Jefferies Group LLC
Jefferies Group LLC cut shares of Time Warner Inc. (NYSE:TWX) from a buy rating to a hold rating in a research report sent to investors on Thursday morning. Jefferies Group also issued estimates for Time Warner’s Q3 2017 earnings at $1.53 EPS, Q4 2017 earnings at $1.58 EPS, FY2017 earnings at $6.11 EPS, Q2 2018 earnings at $1.47 EPS, Q3 2018 earnings at $1.68 EPS, Q4 2018 earnings at $1.72 EPS, FY2018 earnings at $6.60 EPS, Q1 2019 earnings at $1.81 EPS, Q2 2019 earnings at $1.50 EPS and FY2019 earnings at $6.94 EPS.
A number of other analysts have also recently commented on the stock. BidaskClub cut shares of Time Warner from a strong-buy rating to a buy rating in a research note on Thursday, July 13th. MKM Partners reiterated a neutral rating and issued a $107.50 price target (up previously from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Royal Bank Of Canada reiterated a hold rating and issued a $108.00 price target on shares of Time Warner in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Time Warner from a hold rating to a buy rating and set a $113.00 price target for the company in a research note on Thursday, July 13th. Finally, BMO Capital Markets reiterated a hold rating and issued a $108.00 price target on shares of Time Warner in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $101.82.
Shares of Time Warner (NYSE:TWX) traded up 0.17% on Thursday, reaching $102.52. 2,688,354 shares of the company traded hands. The stock has a 50 day moving average of $100.19 and a 200 day moving average of $98.55. The stock has a market cap of $79.74 billion, a price-to-earnings ratio of 18.88 and a beta of 1.05. Time Warner has a 52-week low of $74.27 and a 52-week high of $103.34.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Time Warner will post $6.08 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio is currently 29.98%.
In other news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $99.67 per share, with a total value of $25,415.85. Following the acquisition, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in TWX. Bellwether Investment Group LLC raised its position in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after buying an additional 146 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after buying an additional 100 shares in the last quarter. Carroll Financial Associates Inc. raised its position in Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 33 shares in the last quarter. Advisory Services Network LLC purchased a new position in Time Warner during the first quarter valued at approximately $138,000. Finally, Archford Capital Strategies LLC raised its position in Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock valued at $155,000 after buying an additional 481 shares in the last quarter. 79.78% of the stock is currently owned by hedge funds and other institutional investors.
About Time Warner
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 premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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