Time Warner (NYSE:TWX)‘s stock had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co in a research report issued to clients and investors on Thursday, The Fly reports. They currently have a $98.00 price target on the media conglomerate’s stock, up from their previous price target of $84.00. Wells Fargo & Co’s target price indicates a potential upside of 7.10% from the stock’s previous close.
Several other analysts also recently weighed in on TWX. BMO Capital Markets reaffirmed a “hold” rating and issued a $108.00 target price on shares of Time Warner in a report on Wednesday, September 13th. KeyCorp reaffirmed a “hold” rating on shares of Time Warner in a report on Tuesday, October 17th. FBR & Co downgraded shares of Time Warner from a “buy” rating to a “neutral” rating and lifted their target price for the company from $105.00 to $107.50 in a report on Monday, October 16th. Cowen reiterated a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research note on Thursday, October 12th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $102.00 price objective on shares of Time Warner in a research note on Friday, October 27th. Twenty-one analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $104.88.
Time Warner (NYSE:TWX) opened at $91.50 on Thursday. Time Warner has a 52-week low of $85.88 and a 52-week high of $103.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 1.48. The stock has a market cap of $71,560.48, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96.
In related news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $90.03, for a total value of $2,111,203.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the sale, the chief executive officer now owns 855,925 shares of the company’s stock, valued at $77,589,601.25. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC raised its holdings in Time Warner by 2.1% in the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock valued at $100,000 after acquiring an additional 20 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Time Warner by 11.6% in the third quarter. Parkside Financial Bank & Trust now owns 1,275 shares of the media conglomerate’s stock valued at $101,000 after acquiring an additional 133 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in Time Warner in the third quarter valued at $102,000. Archford Capital Strategies LLC acquired a new stake in Time Warner in the fourth quarter valued at $106,000. Finally, Bellwether Investment Group LLC raised its holdings in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 77.83% of the company’s stock.
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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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