Shares of Time Inc. (NYSE:TIME) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $15.67.

Several brokerages recently issued reports on TIME. Zacks Investment Research upgraded shares of Time from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company lowered shares of Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. BidaskClub upgraded shares of Time from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. Stephens upgraded shares of Time from an “underweight” rating to an “equal weight” rating in a research report on Monday, March 20th. Finally, ValuEngine lowered shares of Time from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.

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Time (NYSE TIME) traded up 0.566% on Friday, hitting $13.325. 273,258 shares of the stock were exchanged. The stock’s market cap is $1.33 billion. The company has a 50-day moving average of $13.28 and a 200-day moving average of $17.18. Time has a 12 month low of $11.65 and a 12 month high of $20.40.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.16 annualized dividend and a yield of 1.21%. Time’s dividend payout ratio (DPR) is -23.53%.

In other news, Director Dennis J. Fitzsimons purchased 3,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was acquired at an average cost of $11.99 per share, for a total transaction of $35,970.00. Following the completion of the transaction, the director now directly owns 30,674 shares in the company, valued at approximately $367,781.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald S. Rolfe purchased 2,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was purchased at an average price of $12.85 per share, with a total value of $25,700.00. Following the completion of the transaction, the director now owns 32,147 shares of the company’s stock, valued at $413,088.95. The disclosure for this purchase can be found here. Insiders have purchased 6,000 shares of company stock valued at $74,600 over the last 90 days. 1.92% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. First Manhattan Co. raised its position in Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock worth $108,000 after buying an additional 118 shares during the last quarter. Capstone Asset Management Co. raised its position in Time by 1.7% in the first quarter. Capstone Asset Management Co. now owns 19,030 shares of the company’s stock worth $368,000 after buying an additional 320 shares during the last quarter. Advantus Capital Management Inc raised its position in Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock worth $246,000 after buying an additional 389 shares during the last quarter. State Treasurer State of Michigan raised its position in Time by 1.0% in the first quarter. State Treasurer State of Michigan now owns 40,337 shares of the company’s stock worth $781,000 after buying an additional 400 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Time by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock worth $484,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.93% 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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