Time Inc. (TIME) Rating Increased to Sell at BidaskClub
Time Inc. (NYSE:TIME) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday.
Several other research firms also recently issued reports on TIME. Zacks Investment Research downgraded Time from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Morgan Stanley cut their price objective on Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.25.
Shares of Time (TIME) opened at $11.40 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $1,090.86, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. Time has a 1 year low of $9.90 and a 1 year high of $20.40.
Time (NYSE:TIME) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $693.65 million. Time had a positive return on equity of 7.53% and a negative net margin of 0.10%. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. equities research analysts expect that Time will post 1.04 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of TIME. Teachers Advisors LLC increased its holdings in Time by 11.6% during the 1st quarter. Teachers Advisors LLC now owns 684,962 shares of the company’s stock worth $13,254,000 after purchasing an additional 71,145 shares during the period. Geode Capital Management LLC increased its holdings in Time by 7.0% during the 1st quarter. Geode Capital Management LLC now owns 785,684 shares of the company’s stock worth $15,202,000 after purchasing an additional 51,338 shares during the period. BlackRock Inc. increased its holdings in Time by 15,894.7% during the 1st quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock worth $204,781,000 after purchasing an additional 10,516,743 shares during the period. KCG Holdings Inc. purchased a new stake in Time during the 1st quarter worth about $294,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Time by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 560,176 shares of the company’s stock worth $10,840,000 after purchasing an additional 30,369 shares during the period. Institutional investors own 88.84% of the company’s stock.
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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