Time Inc. (NYSE:TIME) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Tuesday, August 8th.
Several other research analysts have also commented on TIME. BidaskClub raised Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company lowered Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Time has an average rating of “Hold” and a consensus target price of $15.40.
Time (TIME) traded down 1.98% on Tuesday, reaching $12.35. The company had a trading volume of 949,546 shares. Time has a 1-year low of $11.65 and a 1-year high of $20.40. The stock’s market capitalization is $1.23 billion. The stock’s 50 day moving average is $13.87 and its 200-day moving average is $15.92.
Time (NYSE:TIME) last issued its earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.03. The firm had revenue of $694 million during the quarter, compared to analysts’ expectations of $698.66 million. Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. On average, equities analysts predict that Time will post $1.10 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Time during the first quarter valued at $104,000. First Manhattan Co. increased its stake in shares of 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 in the last quarter. Shelton Capital Management acquired a new stake in shares of Time during the second quarter valued at $144,000. Riverhead Capital Management LLC increased its stake in shares of 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 in the last quarter. Finally, Flinton Capital Management LLC increased its stake in shares of 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 in the last quarter. Institutional investors own 92.86% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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