Time Warner Sees Significant Decline in Short Interest (TWX)
Time Warner (NYSE:TWX) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 9,936,194 shares, a drop of 29.2% from the July 15th total of 14,043,805 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 15,431,423 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.1% of the company’s stock are sold short.
TWX has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Time Warner in a research note on Wednesday, August 13th. They now have a $77.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Time Warner in a research note on Wednesday, August 13th. They now have a $85.00 price target on the stock, down previously from $95.00. Finally, analysts at FBR Capital Markets cut their price target on shares of Time Warner from $90.00 to $85.00 in a research note on Monday, August 11th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $87.30.
Time Warner (NYSE:TWX) opened at 76.50 on Monday. Time Warner has a one year low of $57.5935 and a one year high of $88.13. The stock’s 50-day moving average is $77.80 and its 200-day moving average is $67.72. The company has a market cap of $65.395 billion and a P/E ratio of 16.27.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.14. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.87 billion. During the same quarter last year, the company posted $0.83 earnings per share. Time Warner’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Time Warner will post $4.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Sunday, August 31st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, August 27th.
Time Warner Inc (NYSE:TWX) is a media and entertainment company.
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