Time Inc. (TIME) Cut to Sell at BidaskClub
Time Inc. (NYSE:TIME) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other brokerages have also issued reports on TIME. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Wells Fargo & Company lowered Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research report on Thursday, June 15th. Finally, ValuEngine raised Time from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.40.
Time (NYSE:TIME) opened at 12.35 on Thursday. Time has a one year low of $11.65 and a one year high of $20.40. The firm’s market cap is $1.23 billion. The stock has a 50 day moving average price of $13.87 and a 200-day moving average price of $15.92.
Time (NYSE:TIME) last announced its 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. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The firm had revenue of $694 million during the quarter, compared to analyst estimates of $698.66 million. During the same period in the prior year, the business posted $0.22 EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Analysts predict that Time will post $1.10 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of TIME. Adams Diversified Equity Fund Inc. raised its position in Time by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 56,800 shares of the company’s stock valued at $1,099,000 after buying an additional 1,600 shares during the period. Oregon Public Employees Retirement Fund raised its position in Time by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 35,071 shares of the company’s stock valued at $679,000 after buying an additional 500 shares during the period. Essex Investment Management Co. LLC bought a new position in Time during the first quarter valued at $263,000. State of New Jersey Common Pension Fund D bought a new position in Time during the first quarter valued at $7,740,000. Finally, New Jersey Better Educational Savings Trust bought a new position in Time during the first quarter valued at $387,000. 92.86% of the stock is currently owned by hedge funds and other institutional investors.
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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