Time (TIME) Sees Unusually-High Trading Volume
Time Inc. (NYSE:TIME) shares saw strong trading volume on Tuesday . 24,506,100 shares changed hands during trading, an increase of 1,664% from the previous session’s volume of 1,388,854 shares.The stock last traded at $18.50 and had previously closed at $16.90.
A number of research analysts recently issued reports on the company. Gabelli lowered Time from a “buy” rating to a “sell” rating and set a $20.00 target price on the stock. in a report on Tuesday. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Evercore ISI assumed coverage on Time in a research report on Friday, November 17th. They issued an “outperform” rating and a $7.00 price target for the company. BidaskClub upgraded Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.00.
The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1,838.02, a PE ratio of 17.41, a price-to-earnings-growth ratio of 3.53 and a beta of 0.62.
Time (NYSE:TIME) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.08. Time had a positive return on equity of 7.53% and a negative net margin of 0.10%. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $693.65 million. During the same quarter last year, the company posted $0.31 EPS. Time’s revenue for the quarter was down 9.5% on a year-over-year basis. sell-side analysts anticipate that Time Inc. will post 1.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.86%. Time’s dividend payout ratio (DPR) is -533.16%.
A number of hedge funds and other institutional investors have recently made changes to their positions in TIME. Capstone Asset Management Co. boosted its position in Time by 49.3% during the 2nd quarter. Capstone Asset Management Co. now owns 28,420 shares of the company’s stock worth $408,000 after acquiring an additional 9,390 shares during the period. Louisiana State Employees Retirement System boosted its position in Time by 62.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the company’s stock worth $581,000 after acquiring an additional 15,500 shares during the period. Strs Ohio boosted its position in Time by 21.3% during the 2nd quarter. Strs Ohio now owns 71,100 shares of the company’s stock worth $1,020,000 after acquiring an additional 12,500 shares during the period. Great West Life Assurance Co. Can boosted its position in Time by 140.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 142,601 shares of the company’s stock worth $2,046,000 after acquiring an additional 83,174 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in Time during the 2nd quarter worth about $181,000. Hedge funds and other institutional investors own 88.34% of the company’s stock.
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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