Investors Buy Time Warner Inc. (TWX) on Weakness

Traders bought shares of Time Warner Inc. (NYSE:TWX) on weakness during trading on Thursday. $131.73 million flowed into the stock on the tick-up and $40.65 million flowed out of the stock on the tick-down, for a money net flow of $91.08 million into the stock. Of all equities tracked, Time Warner had the 5th highest net in-flow for the day. Time Warner traded down ($0.34) for the day and closed at $101.94

TWX has been the subject of several recent analyst reports. BMO Capital Markets restated a “hold” rating and set a $108.00 target price on shares of Time Warner in a research note on Monday, April 17th. Pivotal Research cut Time Warner from a “buy” rating to a “hold” rating and upped their target price for the stock from $100.00 to $107.50 in a research note on Thursday, April 20th. MKM Partners restated a “neutral” rating and set a $107.50 target price (up from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Rosenblatt Securities restated a “neutral” rating and set a $105.00 target price on shares of Time Warner in a research note on Wednesday, May 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $105.00 target price on shares of Time Warner in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $102.25.

The stock has a market cap of $79.29 billion, a price-to-earnings ratio of 18.91 and a beta of 1.05. The company’s 50 day moving average price is $100.79 and its 200 day moving average price is $98.82.

Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The firm had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Time Warner Inc. will post $6.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, July 6th. Time Warner’s payout ratio is 29.98%.

In related news, CFO Howard M. Averill purchased 255 shares of Time Warner stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average price of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock valued at $4,184,660,000 after buying an additional 40,940,053 shares in the last quarter. Canyon Capital Advisors LLC raised its stake in Time Warner by 397.0% in the first quarter. Canyon Capital Advisors LLC now owns 5,695,848 shares of the media conglomerate’s stock valued at $556,541,000 after buying an additional 4,549,848 shares during the last quarter. OZ Management LP raised its stake in Time Warner by 98.2% in the first quarter. OZ Management LP now owns 6,243,467 shares of the media conglomerate’s stock valued at $610,049,000 after buying an additional 3,093,353 shares during the last quarter. Renaissance Technologies LLC raised its stake in Time Warner by 4,979.0% in the first quarter. Renaissance Technologies LLC now owns 2,678,334 shares of the media conglomerate’s stock valued at $261,700,000 after buying an additional 2,625,600 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Time Warner by 624.8% in the second quarter. Canada Pension Plan Investment Board now owns 2,044,346 shares of the media conglomerate’s stock valued at $205,273,000 after buying an additional 1,762,300 shares during the last quarter. Institutional investors own 80.02% of the company’s stock.

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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 premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.

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