TIME has been the subject of a number of other research reports. Zacks Investment Research raised shares of Time from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Wednesday, July 13th. Morgan Stanley set a $15.00 price objective on shares of Time and gave the stock a hold rating in a research note on Friday, August 5th. Finally, TheStreet raised shares of Time from a sell rating to a hold rating in a research note on Monday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $17.17.
Time (NYSE:TIME) opened at 14.65 on Tuesday. Time has a 52-week low of $12.23 and a 52-week high of $20.01. The firm’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 posted its quarterly earnings results on Thursday, August 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The firm had revenue of $769 million for the quarter, compared to analyst estimates of $782.49 million. Time had a negative net margin of 28.56% and a positive return on equity of 6.36%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, equities analysts anticipate that Time will post $1.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend was Monday, August 29th. Time’s dividend payout ratio (DPR) is currently -9.42%.
Several large investors have recently modified their holdings of the stock. LS Investment Advisors LLC raised its stake in shares of Time by 64.7% in the second quarter. LS Investment Advisors LLC now owns 6,326 shares of the company’s stock worth $104,000 after buying an additional 2,486 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Time during the first quarter worth about $174,000. Amalgamated Bank raised its stake in shares of Time by 4.5% in the second quarter. Amalgamated Bank now owns 12,774 shares of the company’s stock worth $177,000 after buying an additional 545 shares during the period. Virginia Retirement Systems ET AL bought a new stake in shares of Time during the second quarter worth about $196,000. Finally, Nine Chapters Capital Management LLC bought a new stake in shares of Time during the second quarter worth about $201,000. 93.52% of the stock is owned by institutional investors.
Time Company Profile
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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