Time Warner Inc. (TWX) Downgraded to Sell at Zacks Investment Research

Time Warner Inc. (NYSE:TWX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Shares of Time Warner have declined 0.8% in a month in line with that of the industry. Estimates have been also showing a downtrend ahead of the company’s third-quarter 2017 results, which clearly indicates that analysts are not optimistic about the company’s performance. Moreover, we note that third quarter earnings are likely to decline year over year. Time Warner, which accepted the buyout offer of AT&T, had earlier indicated that it expects Turner division's total advertising revenue to decline in the low single-digits in the quarter. Nevertheless, initiatives such as foraying into new markets and digital endeavors, and investments in video content and technology bode well. Additionally, we believe that investments in programming, production and marketing, along with focus on operating and capital efficiencies bode well. However, decline in overall advertising spending and currency headwinds may impact the performance.”

Several other research analysts also recently weighed in on the company. KeyCorp reaffirmed a “hold” rating on shares of Time Warner in a research note on Tuesday. FBR & Co downgraded Time Warner from a “buy” rating to a “neutral” rating and upped their target price for the stock from $105.00 to $107.50 in a research note on Monday. Cowen and Company reaffirmed a “hold” rating and set a $107.50 target price on shares of Time Warner in a research note on Thursday, October 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $105.00 target price on shares of Time Warner in a research note on Wednesday, October 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Time Warner in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $102.91.

Time Warner (TWX) traded up 0.06% during midday trading on Tuesday, reaching $101.18. 1,915,477 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $102.08 and its 200 day moving average is $100.39. The firm has a market capitalization of $78.70 billion, a price-to-earnings ratio of 18.77 and a beta of 1.02. Time Warner has a 52 week low of $78.80 and a 52 week high of $103.90.

Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The business had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 EPS. On average, equities analysts anticipate that Time Warner will post $6.10 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Time Warner by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock worth $5,004,741,000 after acquiring an additional 1,116,818 shares in the last quarter. BlackRock Inc. lifted its stake in Time Warner by 4.0% during the 2nd quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock worth $4,470,656,000 after acquiring an additional 1,696,681 shares in the last quarter. State Street Corp lifted its stake in Time Warner by 2.1% during the 1st quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after acquiring an additional 688,860 shares in the last quarter. Franklin Resources Inc. lifted its stake in Time Warner by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock worth $1,239,484,000 after acquiring an additional 51,596 shares in the last quarter. Finally, FMR LLC lifted its stake in Time Warner by 0.6% during the 1st quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after acquiring an additional 68,625 shares in the last quarter. 79.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Time Warner (NYSE:TWX)

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