Jefferies Group LLC Reaffirms “Hold” Rating for Time Warner Inc. (TWX)
Time Warner Inc. (NYSE:TWX)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group LLC in a research report issued on Sunday. They presently have a $105.00 price objective on the media conglomerate’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 4.79% from the company’s current price.
Several other analysts have also recently commented on TWX. BidaskClub raised shares of Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reissued a “hold” rating and set a $108.00 price target on shares of Time Warner in a research note on Tuesday, August 15th. Zacks Investment Research cut shares of Time Warner from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Barclays PLC cut shares of Time Warner from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $95.00 to $107.00 in a research note on Friday, August 4th. Finally, Cowen and Company reissued a “hold” rating and set a $107.50 price target on shares of Time Warner in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $102.25.
Shares of Time Warner (TWX) opened at 100.20 on Friday. The company’s 50-day moving average price is $101.62 and its 200 day moving average price is $99.55. The company has a market cap of $77.94 billion, a PE ratio of 18.59 and a beta of 1.04. Time Warner has a one year low of $74.27 and a one year high of $103.34.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Time Warner’s revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that Time Warner will post $6.10 EPS for the current fiscal year.
In other news, CFO Howard M. Averill acquired 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $99.67 per share, with a total value of $25,415.85. Following the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Time Warner by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock valued at $5,004,741,000 after acquiring an additional 1,116,818 shares during the period. BlackRock Inc. grew its position in shares of Time Warner by 4.0% in the 2nd quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock valued at $4,470,656,000 after acquiring an additional 1,696,681 shares during the period. State Street Corp grew its position in shares of Time Warner by 2.1% in the 1st quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock valued at $3,199,990,000 after acquiring an additional 688,860 shares during the period. Franklin Resources Inc. grew its position in shares of Time Warner by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock valued at $1,239,484,000 after acquiring an additional 51,596 shares during the period. Finally, FMR LLC grew its position in shares of Time Warner by 0.6% in the 1st quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock valued at $1,165,905,000 after acquiring an additional 68,625 shares during the period. 79.28% of the stock is owned by institutional investors.
About Time Warner
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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