Time Warner Inc. (TWX) Lowered to Hold at Zacks Investment Research
Time Warner Inc. (NYSE:TWX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Time Warner, which accepted the buyout offer of AT&T, has outpaced the industry in the past one year. The company’s initiatives such as foraying into new markets and digital endeavors, and investments in video content and technology bode well for the stock. This is evident from its positive earnings surprise streak for more than 20 straight quarters, including an earnings beat of 11.8% in second-quarter 2017. The company witnessed robust subscription revenue growth at Home Box Office and Turner, while Warner Bros. benefited from the success of Wonder Woman. Further, Time Warner’s significant international presence has helped broaden client base and product portfolio. Additionally, we believe that investments in programming, production and marketing, along with focus on operating and capital efficiencies augur well. However, decline in overall advertising spending and currency headwinds may impact the performance.”
A number of other research firms have also commented on TWX. Jefferies Group LLC reaffirmed a “hold” rating and issued a $105.00 price objective (up from $102.42) on shares of Time Warner in a research note on Sunday, July 30th. Cowen and Company reissued a “hold” rating and issued a $107.50 price target on shares of Time Warner in a research note on Thursday. Evercore ISI lowered Time Warner from an “outperform” rating to an “in” rating and set a $108.00 price target on the stock. in a research note on Monday. BidaskClub raised Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC lowered Time Warner from an “overweight” rating to a “hold” rating and set a $107.00 price target on the stock. in a research note on Friday. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $102.25.
Shares of Time Warner (TWX) traded down 0.0636% during mid-day trading on Monday, hitting $102.4548. 1,122,055 shares of the company were exchanged. The firm has a 50 day moving average of $100.20 and a 200 day moving average of $98.55. The company has a market capitalization of $79.61 billion, a price-to-earnings ratio of 18.9942 and a beta of 1.05. Time Warner has a 12-month low of $74.27 and a 12-month high of $103.34.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 earnings per share. Equities research analysts forecast that Time Warner will post $6.09 earnings per share for the current year.
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In other Time Warner news, CFO Howard M. Averill acquired 255 shares of Time Warner stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $99.67 per share, for a total transaction of $25,415.85. Following the purchase, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bellwether Investment Group LLC increased its stake in 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 last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in 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 last quarter. Carroll Financial Associates Inc. increased its stake in 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 last quarter. Advisory Services Network LLC acquired a new stake in Time Warner during the first quarter worth approximately $138,000. Finally, Archford Capital Strategies LLC increased its stake in 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 last quarter. Hedge funds and other institutional investors own 80.02% of the company’s stock.
Time Warner Company Profile
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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