Time Inc. (TIME) Given Consensus Rating of “Hold” by Brokerages
Time Inc. (NYSE:TIME) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.00.
Several brokerages have recently weighed in on TIME. ValuEngine lowered shares of Time from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Time from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Macquarie lowered shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Thursday, June 15th.
Several institutional investors and hedge funds have recently modified their holdings of TIME. BlackRock Inc. grew its stake in shares of Time by 15,894.7% in the first quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock valued at $204,781,000 after acquiring an additional 10,516,743 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Time in the first quarter valued at about $29,239,000. Dimensional Fund Advisors LP grew its stake in shares of Time by 21.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock valued at $86,128,000 after acquiring an additional 1,078,946 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Time by 53.8% in the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock valued at $48,129,000 after acquiring an additional 870,200 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Time by 200.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,200,000 shares of the company’s stock valued at $17,220,000 after acquiring an additional 800,000 shares in the last quarter. 89.88% of the stock is currently owned by institutional investors.
Time (NYSE TIME) opened at 12.80 on Wednesday. The firm’s market capitalization is $1.27 billion. Time has a 1-year low of $11.65 and a 1-year high of $20.40. The company has a 50-day moving average of $13.44 and a 200-day moving average of $15.33.
Time (NYSE:TIME) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company had revenue of $694 million during the quarter, compared to the consensus estimate of $698.66 million. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. 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 earnings per share. On average, equities analysts predict that Time will post $1.10 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, August 29th. Time’s payout ratio is presently -12.31%.
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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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