Time Inc. (TIME) Downgraded by BidaskClub
BidaskClub lowered shares of Time Inc. (NYSE:TIME) from a sell rating to a strong sell rating in a research note published on Friday.
Several other analysts also recently weighed in on TIME. Zacks Investment Research downgraded Time from a hold rating to a sell rating in a research note on Thursday, July 20th. ValuEngine upgraded Time from a hold rating to a buy rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of Hold and a consensus target price of $14.67.
Shares of Time (NYSE:TIME) opened at 12.15 on Friday. Time has a 12-month low of $11.65 and a 12-month high of $20.40. The firm’s 50-day moving average price is $12.94 and its 200 day moving average price is $13.99. The stock’s market capitalization is $1.21 billion.
Time (NYSE:TIME) last announced 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). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The business had revenue of $694.00 million for the quarter, compared to the consensus estimate of $698.66 million. During the same quarter in the previous year, the company earned $0.22 EPS. Time’s revenue for the quarter was down 9.8% compared to the same quarter last year. Analysts predict that Time will post $1.10 EPS for the current fiscal year.
WARNING: “Time Inc. (TIME) Downgraded by BidaskClub” was posted by Daily Political and is the property of of Daily Political. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/10/23/time-inc-time-downgraded-by-bidaskclub.html.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Time by 16.0% in the 2nd quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock valued at $176,209,000 after acquiring an additional 1,696,311 shares in the last quarter. Fairpointe Capital LLC raised its holdings in Time by 7.9% in the 2nd quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock valued at $151,866,000 after acquiring an additional 779,303 shares in the last quarter. Vanguard Group Inc. raised its holdings in Time by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock valued at $124,672,000 after acquiring an additional 154,543 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Time by 21.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock valued at $86,128,000 after acquiring an additional 1,078,946 shares in the last quarter. Finally, State Street Corp raised its holdings in Time by 3.5% in the 1st quarter. State Street Corp now owns 3,435,769 shares of the company’s stock valued at $66,477,000 after acquiring an additional 117,265 shares in the last quarter. 89.68% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Time Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Inc. and related companies with MarketBeat.com's FREE daily email newsletter.