Time Inc. (NYSE:TIME) announced its earnings results on Tuesday. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03, Bloomberg Earnings reports. The company had revenue of $694 million for the quarter, compared to the consensus estimate of $698.66 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS.

Shares of Time (NYSE TIME) opened at 13.80 on Tuesday. Time has a 52-week low of $11.65 and a 52-week high of $20.40. The company’s market capitalization is $1.37 billion. The stock has a 50 day moving average price of $14.00 and a 200 day moving average price of $16.38.

In other news, Director Dennis J. Fitzsimons purchased 3,000 shares of Time stock in a transaction that occurred 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 purchase, the director now directly owns 30,674 shares of the company’s stock, valued at approximately $367,781.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald S. Rolfe purchased 2,000 shares of Time stock in a transaction that occurred 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 purchase, the director now directly owns 32,147 shares in the company, valued at $413,088.95. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,000 shares of company stock worth $74,600 over the last three months. 1.92% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. First Manhattan Co. increased its stake 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. increased its stake 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 increased its stake 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 increased its stake 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, Oregon Public Employees Retirement Fund increased its stake in Time by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 35,071 shares of the company’s stock worth $679,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.70% of the company’s stock.

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TIME has been the subject of a number of recent analyst reports. BidaskClub raised Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. ValuEngine cut Time from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company cut Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, Macquarie cut Time from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.40.

About Time

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.

Earnings History for Time (NYSE:TIME)

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