Time Inc. (NYSE:TIME) Upgraded at Zacks Investment Research
Time Inc. (NYSE:TIME) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “
Several other research firms also recently weighed in on TIME. Macquarie downgraded shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Thursday, June 15th. ValuEngine downgraded shares of Time from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded shares of Time from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Wells Fargo & Company downgraded shares of Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.40.
Shares of Time (TIME) opened at 13.60 on Thursday. The company’s market cap is $1.35 billion. The firm has a 50-day moving average of $14.00 and a 200-day moving average of $16.20. Time has a 12-month low of $11.65 and a 12-month high of $20.40.
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 consensus estimate of $0.16 by $0.03. The business had revenue of $694 million during the quarter, compared to analysts’ expectations of $698.66 million. Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. Time’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. Analysts predict that Time will post $1.18 EPS for the current year.
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In other news, Director Ronald S. Rolfe acquired 2,000 shares of Time stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average price of $12.85 per share, with a total value of $25,700.00. Following the completion of the purchase, the director now owns 32,147 shares in the company, valued at $413,088.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis J. Fitzsimons acquired 3,000 shares of Time stock in a transaction that occurred on Thursday, May 18th. The shares were purchased 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 of the company’s stock, valued at approximately $367,781.26. The disclosure for this purchase can be found here. 1.92% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of Time by 53.8% in the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock valued at $48,129,000 after buying an additional 870,200 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Time during the first quarter valued at approximately $602,000. Nisa Investment Advisors LLC boosted its position in shares of Time by 5.7% in the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock valued at $302,000 after buying an additional 840 shares in the last quarter. Advantus Capital Management Inc boosted its position in shares of Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock valued at $246,000 after buying an additional 389 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Time by 4.8% in the first quarter. New York State Teachers Retirement System now owns 198,106 shares of the company’s stock valued at $3,833,000 after buying an additional 9,000 shares in the last quarter. 91.70% of the stock is owned by institutional investors.
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.
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