Time Warner Inc. (TWX) Lowered to “In-Line” at Evercore ISI
Time Warner Inc. (NYSE:TWX) was downgraded by equities researchers at Evercore ISI from an “outperform” rating to an “in-line” rating in a note issued to investors on Monday. They presently have a $108.00 target price on the media conglomerate’s stock. Evercore ISI’s target price indicates a potential upside of 5.35% from the company’s previous close.
A number of other equities analysts have also weighed in on TWX. Cowen and Company reiterated a “hold” rating and issued a $107.50 price target on shares of Time Warner in a research report on Thursday. BidaskClub upgraded shares of Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC lowered shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays PLC lowered shares of Time Warner from an “overweight” rating to a “hold” rating and set a $107.00 target price for the company. in a research report on Friday. Finally, Zacks Investment Research upgraded shares of Time Warner from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $102.25.
Shares of Time Warner (TWX) traded down 0.05% on Monday, reaching $102.47. 1,421,947 shares of the company’s stock traded hands. The stock has a market cap of $79.62 billion, a price-to-earnings ratio of 19.00 and a beta of 1.05. The firm’s 50-day moving average is $100.19 and its 200-day moving average is $98.55. Time Warner has a 52-week low of $74.27 and a 52-week high of $103.34.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.14. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. Analysts anticipate that Time Warner will post $6.09 EPS for the current fiscal year.
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In other Time Warner news, CFO Howard M. Averill bought 255 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the acquisition, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bellwether Investment Group LLC raised its stake in shares of Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after buying an additional 146 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after buying an additional 100 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock worth $122,000 after buying an additional 33 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Time Warner during the first quarter worth about $138,000. Finally, Archford Capital Strategies LLC raised its stake in shares of Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock worth $155,000 after buying an additional 481 shares during the period. Institutional investors own 80.02% of the company’s stock.
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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