Time Warner Inc (NYSE:TWX) declared a quarterly dividend on Monday, December 18th, RTT News reports. Stockholders of record on Wednesday, January 10th will be given a dividend of 0.4025 per share by the media conglomerate on Thursday, February 1st. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.79%.
Time Warner has raised its dividend payment by an average of 11.9% annually over the last three years and has raised its dividend every year for the last 8 years. Time Warner has a dividend payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Time Warner to earn $6.46 per share next year, which means the company should continue to be able to cover its $1.61 annual dividend with an expected future payout ratio of 24.9%.
Time Warner (NYSE TWX) traded down $0.46 during midday trading on Monday, hitting $89.79. 4,950,813 shares of the stock were exchanged, compared to its average volume of 4,803,602. Time Warner has a 1-year low of $85.88 and a 1-year high of $103.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.48 and a quick ratio of 1.26. The firm has a market capitalization of $70,150.00, a P/E ratio of 14.89, a PEG ratio of 1.42 and a beta of 0.95.
In related news, CEO Jeffrey L. Bewkes sold 329,478 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $90.65, for a total value of $29,867,180.70. Following the completion of the sale, the chief executive officer now directly owns 855,925 shares in the company, valued at $77,589,601.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Olaf Olafsson sold 23,450 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Cowen reaffirmed a “hold” rating and issued a $107.50 price target on shares of Time Warner in a research note on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $105.00 price target on shares of Time Warner in a research note on Wednesday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Time Warner in a research note on Tuesday, September 26th. Credit Suisse Group downgraded shares of Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price target on the stock. in a research note on Monday, September 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $108.00 price target on shares of Time Warner in a research note on Wednesday, October 18th. Twenty-three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $103.00.
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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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