Time Inc. (NYSE:TIME) announced a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be given a dividend of 0.04 per share on Friday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, August 29th.

Time has a payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Time to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 12.4%.

Time (NYSE:TIME) traded down 1.79% during mid-day trading on Wednesday, hitting $13.70. 68,540 shares of the company traded hands. The firm’s market capitalization is $1.36 billion. Time has a one year low of $11.65 and a one year high of $20.40. The firm has a 50 day moving average of $13.99 and a 200 day moving average of $16.33.

Time (NYSE:TIME) last posted its earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $694 million for the quarter, compared to the consensus estimate of $698.66 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. Equities research analysts expect that Time will post $1.18 earnings per share for the current fiscal year.

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In related news, Director Ronald S. Rolfe purchased 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was acquired at an average price of $12.85 per share, with a total value of $25,700.00. Following the purchase, the director now directly owns 32,147 shares in the company, valued at $413,088.95. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dennis J. Fitzsimons purchased 3,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was bought at an average cost of $11.99 per share, with a total value of $35,970.00. Following the purchase, the director now owns 30,674 shares in the company, valued at $367,781.26. The disclosure for this purchase can be found here. In the last three months, insiders acquired 6,000 shares of company stock valued at $74,600. Corporate insiders own 1.92% of the company’s stock.

A number of analysts recently weighed in on TIME shares. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Wells Fargo & Company cut shares of Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. ValuEngine cut shares of Time from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Finally, Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $15.40.

Time Company Profile

Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.

Dividend History for Time (NYSE:TIME)

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