Guggenheim Upgrades Time Warner to “Buy” (TWX)
Time Warner (NYSE:TWX) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Shares of Time Warner (NYSE:TWX) opened at 83.13 on Thursday. Time Warner has a 52-week low of $57.5935 and a 52-week high of $84.40. The stock’s 50-day moving average is $69.68 and its 200-day moving average is $64.97. The company has a market cap of $73.329 billion and a P/E ratio of 15.64.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.88 by $0.09. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Time Warner will post $4.00 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Time Warner from $73.00 to $76.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Time Warner from $80.00 to $90.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at ISI Group reiterated a “buy” rating on shares of Time Warner in a research note on Thursday. They now have a $92.00 price target on the stock, up previously from $77.00. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Time Warner currently has a consensus rating of “Buy” and an average target price of $76.15.
Time Warner Inc (NYSE:TWX) is a media and entertainment company.
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