Stock Traders Buy Large Volume of Time Warner Call Options (TWX)
Time Warner Inc (NYSE:TWX) saw some unusual options trading on Monday. Stock traders bought 29,810 call options on the stock. This is an increase of approximately 901% compared to the typical volume of 2,978 call options.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after buying an additional 40,940,053 shares during the period. Dodge & Cox bought a new stake in shares of Time Warner during the fourth quarter worth about $3,124,831,000. Franklin Resources Inc. boosted its stake in shares of Time Warner by 106.8% in the fourth quarter. Franklin Resources Inc. now owns 12,389,546 shares of the media conglomerate’s stock worth $1,195,963,000 after buying an additional 6,398,328 shares during the period. Norges Bank bought a new stake in shares of Time Warner during the fourth quarter worth about $591,981,000. Finally, Canyon Capital Advisors LLC boosted its stake in shares of Time Warner by 397.0% in the first quarter. Canyon Capital Advisors LLC now owns 5,695,848 shares of the media conglomerate’s stock worth $556,541,000 after buying an additional 4,549,848 shares during the period. 79.34% of the stock is currently owned by institutional investors and hedge funds.
Time Warner (NYSE:TWX) opened at 98.40 on Thursday. Time Warner has a 12 month low of $68.97 and a 12 month high of $100.60. The company has a 50 day moving average price of $98.77 and a 200-day moving average price of $96.22. The company has a market cap of $76.31 billion, a PE ratio of 18.77 and a beta of 1.09.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, May 3rd. The media conglomerate reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.66 billion. Time Warner had a return on equity of 19.29% and a net margin of 13.39%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 EPS. Equities analysts predict that Time Warner will post $6.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a dividend of $0.4025 per share. The ex-dividend date is Friday, May 26th. This represents a $1.61 dividend on an annualized basis and a yield of 1.64%. Time Warner’s dividend payout ratio (DPR) is 32.59%.
Several equities research analysts have recently commented on the company. BMO Capital Markets reissued a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a report on Monday, April 17th. Wunderlich reaffirmed a “buy” rating and set a $107.50 price target on shares of Time Warner in a report on Wednesday, February 8th. MKM Partners reaffirmed a “neutral” rating and set a $107.50 price target (up previously from $90.00) on shares of Time Warner in a report on Monday, May 1st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $105.00 price target on shares of Time Warner in a report on Wednesday, May 3rd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $108.00 price target on shares of Time Warner in a report on Wednesday, March 1st. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $100.50.
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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 premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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