Time Inc (NYSE:TIME) was the target of a significant decrease in short interest in December. As of December 29th, there was short interest totalling 2,658,121 shares, a decrease of 54.8% from the December 15th total of 5,887,280 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily volume of 897,160 shares, the short-interest ratio is presently 3.0 days.
Shares of Time (TIME) opened at $18.45 on Thursday. Time has a 12 month low of $9.90 and a 12 month high of $19.70. The stock has a market cap of $1,840.00, a price-to-earnings ratio of -922.50, a PEG ratio of 2.73 and a beta of 1.06. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88.
Time (NYSE:TIME) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The firm had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $693.65 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was down 9.5% on a year-over-year basis. sell-side analysts predict that Time will post 1.06 earnings per share for the current fiscal year.
A number of research analysts have commented on TIME shares. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Morgan Stanley reduced their price objective on Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Gabelli cut Time from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a research note on Saturday, November 11th. Finally, Citigroup cut Time from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.17.
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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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