Wedbush downgraded shares of Time Warner Inc. (NYSE:TWX) from an outperform rating to a neutral rating in a research note issued to investors on Monday morning. The firm currently has $90.00 price target on the media conglomerate’s stock.
Other research analysts have also recently issued research reports about the stock. Albert Fried & Company restated a buy rating and set a $90.00 target price on shares of Time Warner in a report on Wednesday, August 3rd. Bank of America Corp. restated a hold rating on shares of Time Warner in a report on Tuesday, July 12th. Jefferies Group increased their target price on shares of Time Warner from $85.00 to $88.00 and gave the stock a buy rating in a report on Thursday, August 4th. Brean Capital restated a buy rating on shares of Time Warner in a report on Tuesday, July 26th. Finally, MKM Partners restated a buy rating on shares of Time Warner in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $86.11.
Time Warner (NYSE:TWX) traded up 0.85% during midday trading on Monday, reaching $79.51. 345,298 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $78.07 and its 200 day moving average is $76.30. Time Warner has a 1-year low of $55.53 and a 1-year high of $81.33. The stock has a market cap of $61.85 billion, a P/E ratio of 15.82 and a beta of 1.21.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.13. Time Warner had a net margin of 14.54% and a return on equity of 17.33%. The business earned $7 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Equities analysts anticipate that Time Warner will post $5.42 earnings per share for the current fiscal year.
In other news, insider Karen Magee sold 14,240 shares of Time Warner stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $79.97, for a total value of $1,138,772.80. Following the completion of the sale, the insider now owns 7,461 shares in the company, valued at approximately $596,656.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul T. Cappuccio sold 56,595 shares of Time Warner stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total transaction of $4,427,992.80. Following the completion of the sale, the executive vice president now owns 157,877 shares of the company’s stock, valued at approximately $12,352,296.48. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Ensemble Capital Management LLC raised its stake in Time Warner by 24.4% in the first quarter. Ensemble Capital Management LLC now owns 177,245 shares of the media conglomerate’s stock valued at $12,859,000 after buying an additional 34,770 shares in the last quarter. Springowl Associates LLC acquired a new stake in Time Warner during the first quarter valued at about $725,000. Geode Capital Management LLC increased its stake in Time Warner by 0.5% in the first quarter. Geode Capital Management LLC now owns 6,398,087 shares of the media conglomerate’s stock valued at $463,236,000 after buying an additional 34,327 shares during the last quarter. Advent Capital Management DE acquired a new stake in Time Warner during the first quarter valued at about $2,517,000. Finally, Baker Avenue Asset Management LP acquired a new stake in Time Warner during the first quarter valued at about $310,000. Institutional investors own 80.68% of the company’s stock.
About Time Warner
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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