Time Inc. (NYSE:TIME) has earned an average rating of “Hold” from the eight ratings firms that are covering the firm. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.25.
Several equities analysts have recently issued reports on TIME shares. Citigroup Inc. reduced their target price on Time from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Zacks Investment Research raised Time from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, July 13th. Morgan Stanley set a $15.00 price objective on Time and gave the company a “hold” rating in a report on Friday, August 5th. Finally, TheStreet raised Time from a “sell” rating to a “hold” rating in a report on Monday, June 6th.
Institutional investors have recently bought and sold shares of the company. IBIS Capital Partners LLP raised its position in Time by 52.8% in the first quarter. IBIS Capital Partners LLP now owns 793,757 shares of the company’s stock worth $12,256,000 after buying an additional 274,359 shares during the last quarter. BlackRock Group LTD raised its position in Time by 28.5% in the first quarter. BlackRock Group LTD now owns 81,750 shares of the company’s stock worth $1,262,000 after buying an additional 18,121 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Time by 72.1% in the first quarter. UBS Asset Management Americas Inc. now owns 184,880 shares of the company’s stock worth $2,855,000 after buying an additional 77,437 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Time by 3.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 173,912 shares of the company’s stock worth $2,685,000 after buying an additional 5,114 shares during the last quarter. Finally, A.R. Schmeidler & Co. Inc. raised its position in Time by 81.4% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 23,298 shares of the company’s stock worth $360,000 after buying an additional 10,456 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.
Time (NYSE:TIME) opened at 14.65 on Friday. Time has a 12-month low of $12.23 and a 12-month high of $20.01. The stock’s 50 day moving average price is $14.41 and its 200-day moving average price is $15.31. The firm’s market cap is $1.47 billion.
Time (NYSE:TIME) last released its earnings results on Thursday, August 4th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The company earned $769 million during the quarter, compared to analyst estimates of $782.49 million. Time had a positive return on equity of 6.36% and a negative net margin of 28.56%. Time’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. Equities research analysts anticipate that Time will post $1.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Monday, August 29th. Time’s payout ratio is currently -9.42%.
Time Inc is a media company. The Company’s brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as over 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound, and Wallpaper*.
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