Time Inc. (NYSE:TIME) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “
TIME has been the subject of a number of other research reports. Citigroup Inc. decreased their price objective on shares of Time from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, September 27th. Morgan Stanley set a $15.00 target price on shares of Time and gave the stock a “hold” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.17.
Time (NYSE:TIME) opened at 13.71 on Thursday. Time has a 52-week low of $12.23 and a 52-week high of $20.01. The firm’s market capitalization is $1.37 billion. The company’s 50-day moving average is $14.45 and its 200-day moving average is $15.26.
Time (NYSE:TIME) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Time had a negative net margin of 28.56% and a positive return on equity of 6.36%. The business earned $769 million during the quarter, compared to the consensus estimate of $782.49 million. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Analysts forecast that Time will post $1.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.54%. Time’s dividend payout ratio (DPR) is currently -9.42%.
Several institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in Time during the first quarter worth approximately $557,000. OMERS ADMINISTRATION Corp purchased a new position in Time during the first quarter worth approximately $494,000. Spark Investment Management LLC raised its position in Time by 42.7% in the first quarter. Spark Investment Management LLC now owns 237,200 shares of the company’s stock worth $3,662,000 after buying an additional 71,000 shares during the period. 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 period. Finally, 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 period. Institutional investors own 93.52% of the company’s stock.
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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