Time Inc. (NYSE:TIME) Raised to “Buy” at ValuEngine
Time Inc. (NYSE:TIME) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
TIME has been the topic of a number of other research reports. BidaskClub raised shares of Time from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Wells Fargo & Company downgraded shares of Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. Finally, Macquarie downgraded shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.40.
Time (NYSE TIME) traded up 1.09% during trading on Tuesday, hitting $13.95. 1,670,382 shares of the company traded hands. Time has a 52 week low of $11.65 and a 52 week high of $20.40. The stock’s market capitalization is $1.39 billion. The company’s 50 day moving average is $13.99 and its 200-day moving average is $16.33.
Time (NYSE:TIME) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $694 million for the quarter, compared to analysts’ expectations of $698.66 million. Time had a negative net margin of 2.18% and a positive return on equity of 7.30%. Time’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. Analysts predict that Time will post $1.18 earnings per share for the current year.
In other news, Director Ronald S. Rolfe acquired 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $12.85 per share, for a total transaction of $25,700.00. Following the completion of the transaction, the director now directly owns 32,147 shares of the company’s stock, valued at approximately $413,088.95. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dennis J. Fitzsimons acquired 3,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $11.99 per share, for a total transaction of $35,970.00. Following the transaction, the director now directly owns 30,674 shares of the company’s stock, valued at $367,781.26. The disclosure for this purchase can be found here. Insiders have acquired 6,000 shares of company stock worth $74,600 in the last quarter. Company insiders own 1.92% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TIME. Principal Financial Group Inc. boosted its position in Time by 89.1% in the second quarter. Principal Financial Group Inc. now owns 768,929 shares of the company’s stock worth $11,034,000 after buying an additional 362,238 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in Time during the second quarter worth $4,631,000. Balter Liquid Alternatives LLC purchased a new position in Time during the second quarter worth $156,000. Prudential Financial Inc. boosted its position in Time by 323.4% in the second quarter. Prudential Financial Inc. now owns 566,384 shares of the company’s stock worth $8,128,000 after buying an additional 432,620 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in Time during the second quarter worth $973,000. Institutional investors and hedge funds own 91.70% 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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