Time Inc. (NYSE:TIME) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

TIME has been the topic of a number of other research reports. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Stephens downgraded Time from an “equal weight” rating to a “sell” rating and set a $15.00 price objective on the stock. in a research report on Friday, February 17th. Wells Fargo & Company cut Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. BidaskClub upgraded Time from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Finally, ValuEngine cut Time from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.40.

Analyst Recommendations for Time (NYSE:TIME)

Time (TIME) traded down 4.464% during trading on Thursday, hitting $13.375. The stock had a trading volume of 319,773 shares. Time has a 52-week low of $11.65 and a 52-week high of $20.40. The stock’s market capitalization is $1.33 billion. The stock’s 50-day moving average is $13.65 and its 200-day moving average is $17.25.

Time (NYSE:TIME) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. Time had a negative net margin of 2.18% and a positive return on equity of 7.30%. The company had revenue of $636 million for the quarter, compared to the consensus estimate of $641.85 million. During the same period in the previous year, the business earned ($0.11) EPS. Time’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, analysts predict that Time will post $1.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, May 26th. Time’s payout ratio is -23.53%.

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In other news, Director Ronald S. Rolfe acquired 2,000 shares of Time stock in a transaction dated Monday, May 15th. The stock was purchased at an average cost of $12.85 per share, for a total transaction of $25,700.00. Following the completion of the purchase, the director now directly owns 32,147 shares in the company, valued at approximately $413,088.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dennis J. Fitzsimons acquired 3,000 shares of Time stock in a transaction dated Thursday, May 18th. The stock was purchased at an average price of $11.99 per share, with a total value of $35,970.00. Following the completion of the purchase, the director now owns 30,674 shares of the company’s stock, valued at $367,781.26. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 6,000 shares of company stock valued at $74,600. Company insiders own 1.92% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Time during the first quarter valued at $29,239,000. Tudor Investment Corp ET AL boosted its position in shares of Time by 34.5% in the first quarter. Tudor Investment Corp ET AL now owns 70,972 shares of the company’s stock valued at $1,373,000 after buying an additional 18,186 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Time during the first quarter valued at $427,000. AQR Capital Management LLC boosted its position in shares of Time by 66.7% in the first quarter. AQR Capital Management LLC now owns 817,629 shares of the company’s stock valued at $15,821,000 after buying an additional 327,007 shares in the last quarter. Finally, York Capital Management Global Advisors LLC boosted its position in shares of Time by 25.6% in the first quarter. York Capital Management Global Advisors LLC now owns 550,000 shares of the company’s stock valued at $10,643,000 after buying an additional 112,189 shares in the last quarter. Hedge funds and other institutional investors own 92.79% of the company’s stock.

Time Company Profile

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.

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