Time Inc. (NYSE:TIME) announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03, Bloomberg Earnings reports. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The business had revenue of $694 million during the quarter, compared to analyst estimates of $698.66 million. During the same quarter in the prior year, the company posted $0.22 EPS. The company’s quarterly revenue was down 9.8% compared to the same quarter last year.
Time (TIME) opened at 12.35 on Friday. The company’s market cap is $1.23 billion. The stock has a 50 day moving average of $13.87 and a 200 day moving average of $15.92. Time has a 52 week low of $11.65 and a 52 week high of $20.40.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, August 29th. Time’s dividend payout ratio (DPR) is presently -12.31%.
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TIME has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Time from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Time from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Thursday, June 15th. Wells Fargo & Company cut shares of Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, ValuEngine lowered shares of Time from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.40.
Several hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in Time during the first quarter valued at $104,000. First Manhattan Co. boosted its stake in Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock valued at $108,000 after buying an additional 118 shares during the period. Shelton Capital Management purchased a new stake in Time during the second quarter valued at $144,000. Riverhead Capital Management LLC boosted its stake in Time by 84.7% in the second quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock valued at $148,000 after buying an additional 4,743 shares during the period. Finally, Flinton Capital Management LLC boosted its stake in Time by 84.9% in the second quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock valued at $150,000 after buying an additional 4,794 shares during the period. Institutional investors own 92.86% of the company’s stock.
Time Company Profile
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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