Time Inc. (TIME) Downgraded by Zacks Investment Research
Time Inc. (NYSE:TIME) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “
Several other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Time from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine downgraded shares of Time from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. 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. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Time presently has an average rating of “Hold” and an average price target of $14.67.
Time (TIME) traded down 1.357% during mid-day trading on Wednesday, hitting $12.725. The stock had a trading volume of 128,795 shares. The company has a 50 day moving average price of $13.00 and a 200-day moving average price of $14.32. The company’s market cap is $1.27 billion. Time has a one year low of $11.65 and a one year high of $20.40.
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 Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The firm had revenue of $694.00 million for the quarter, compared to analysts’ expectations of $698.66 million. During the same period last year, the firm earned $0.22 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts expect that Time will post $1.10 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TIME. BlackRock Inc. increased its position in shares of Time by 15,894.7% in the 1st quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock worth $204,781,000 after purchasing an additional 10,516,743 shares during the last quarter. Norges Bank bought a new stake in shares of Time in the 4th quarter worth about $37,570,000. Point72 Asset Management L.P. bought a new stake in shares of Time in the 1st quarter worth about $29,239,000. Emerald Acquisition Ltd. bought a new stake in shares of Time in the 2nd quarter worth about $20,028,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Time in the 1st quarter worth about $18,654,000. 90.06% of the stock is owned by 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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