Time Warner Inc. (TWX) to Post Q3 2016 Earnings of $1.36 Per Share, Jefferies Group Forecasts
Time Warner Inc. (NYSE:TWX) – Analysts at Jefferies Group lifted their Q3 2016 EPS estimates for shares of Time Warner in a report released on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings per share of $1.36 for the quarter, up from their prior estimate of $1.32. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Time Warner’s Q4 2016 earnings at $1.31 EPS, Q3 2017 earnings at $1.59 EPS and Q4 2017 earnings at $1.52 EPS.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.13. The firm earned $7 billion during the quarter, compared to analyst estimates of $7.12 billion. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share.
A number of other research firms have also commented on TWX. Albert Fried & Company reaffirmed a “buy” rating and set a $90.00 price target on shares of Time Warner in a research report on Wednesday, August 17th. Loop Capital reaffirmed a “buy” rating and set a $96.00 price target on shares of Time Warner in a research report on Wednesday, August 17th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $90.00 price target on shares of Time Warner in a research report on Friday, August 12th. Argus reaffirmed a “buy” rating on shares of Time Warner in a research report on Friday, August 5th. Finally, FBR & Co downgraded Time Warner from an “outperform” rating to a “market perform” rating and set a $81.00 target price on the stock. in a report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Time Warner presently has an average rating of “Buy” and an average target price of $86.11.
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Shares of Time Warner (NYSE:TWX) traded up 1.37% during mid-day trading on Wednesday, reaching $79.65. The company had a trading volume of 1,847,465 shares. Time Warner has a 52-week low of $55.53 and a 52-week high of $81.33. The company has a market cap of $61.96 billion, a price-to-earnings ratio of 15.85 and a beta of 1.21. The firm’s 50-day moving average price is $78.14 and its 200 day moving average price is $76.09.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.4025 per share. The ex-dividend date was Monday, August 29th. This represents a $1.61 dividend on an annualized basis and a yield of 2.05%. Time Warner’s dividend payout ratio is presently 32.01%.
In other Time Warner news, EVP Paul T. Cappuccio sold 56,595 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total transaction of $4,427,992.80. Following the sale, the executive vice president now directly owns 157,877 shares of the company’s stock, valued at $12,352,296.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Karen Magee sold 14,240 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $79.97, for a total value of $1,138,772.80. Following the sale, the insider now directly owns 7,461 shares in the company, valued at $596,656.17. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Time Warner by 1.3% in the second quarter. Vanguard Group Inc. now owns 45,700,331 shares of the media conglomerate’s stock worth $3,360,803,000 after buying an additional 591,329 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Time Warner by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 12,324,835 shares of the media conglomerate’s stock worth $906,367,000 after buying an additional 193,231 shares during the last quarter. FMR LLC raised its position in shares of Time Warner by 1.1% in the second quarter. FMR LLC now owns 10,869,061 shares of the media conglomerate’s stock worth $799,310,000 after buying an additional 120,162 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Time Warner by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,940,308 shares of the media conglomerate’s stock worth $657,390,000 after buying an additional 36,942 shares during the last quarter. Finally, Independent Franchise Partners LLP raised its position in shares of Time Warner by 3.4% in the second quarter. Independent Franchise Partners LLP now owns 8,174,133 shares of the media conglomerate’s stock worth $601,125,000 after buying an additional 269,450 shares during the last quarter. 80.67% of the stock is currently owned by institutional investors and hedge funds.
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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