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.

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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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