Time Inc. (TIME) Rating Lowered to Sell at BidaskClub
Time Inc. (NYSE:TIME) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
TIME has been the topic of several other research reports. Zacks Investment Research upgraded shares of Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine lowered shares of Time from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Macquarie lowered shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Thursday, June 15th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.67.
Time (NYSE TIME) opened at 12.65 on Tuesday. The stock’s 50 day moving average is $13.01 and its 200-day moving average is $14.31. The company’s market cap is $1.26 billion. Time has a 52-week low of $11.65 and a 52-week high of $20.40.
Time (NYSE:TIME) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The company had revenue of $694.00 million for the quarter, compared to analysts’ expectations of $698.66 million. During the same quarter in the prior year, the firm earned $0.22 EPS. Time’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that Time will post $1.10 EPS for the current fiscal year.
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A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Time by 16.0% during the second quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock worth $176,209,000 after acquiring an additional 1,696,311 shares in the last quarter. Fairpointe Capital LLC boosted its stake in Time by 7.9% during the second quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after acquiring an additional 779,303 shares in the last quarter. Vanguard Group Inc. boosted its stake in Time by 1.8% during the second quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock worth $124,672,000 after acquiring an additional 154,543 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Time by 21.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock worth $86,128,000 after acquiring an additional 1,078,946 shares in the last quarter. Finally, Omega Advisors Inc. boosted its stake in Time by 12.1% during the first quarter. Omega Advisors Inc. now owns 4,362,604 shares of the company’s stock worth $84,416,000 after acquiring an additional 469,349 shares in the last quarter. 90.06% of the stock is currently owned by institutional investors and hedge funds.
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.
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