Time Inc. (TIME) Downgraded to Sell at BidaskClub
Time Inc. (NYSE:TIME) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.
A number of other brokerages have also issued reports on TIME. Macquarie lowered 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. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine lowered shares of Time from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Wells Fargo & Company lowered shares of Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.40.
Time (TIME) opened at 12.95 on Thursday. The firm’s 50 day moving average price is $13.98 and its 200-day moving average price is $15.99. Time has a 52 week low of $11.65 and a 52 week high of $20.40. The stock’s market cap is $1.29 billion.
Time (NYSE:TIME) last issued its earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $694 million for the quarter, compared to analyst estimates of $698.66 million. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned $0.22 EPS. Analysts expect that Time will post $1.10 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in 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 during the last quarter. First Trust Advisors LP acquired a new stake in Time during the first quarter valued at about $602,000. Nisa Investment Advisors LLC raised its stake in 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 during the last quarter. Advantus Capital Management Inc raised its stake in 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 during the last quarter. Finally, New York State Teachers Retirement System raised its stake in 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 during the last quarter. 92.86% of the stock is owned by institutional investors and hedge funds.
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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