Time Inc. (TIME) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Time Inc. (NYSE:TIME) posted its quarterly earnings results on Tuesday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.03, Bloomberg Earnings reports. The company had revenue of $694 million during the quarter, compared to analyst estimates of $698.66 million. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The company’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share.

Shares of Time (NYSE TIME) traded down 0.37% during mid-day trading on Thursday, hitting $13.55. 172,841 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $14.00 and a 200-day moving average price of $16.20. Time has a 52 week low of $11.65 and a 52 week high of $20.40. The company’s market capitalization is $1.35 billion.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.18%. Time’s dividend payout ratio (DPR) is -12.31%.

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In other news, Director Dennis J. Fitzsimons bought 3,000 shares of Time stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average cost of $11.99 per share, with a total value of $35,970.00. Following the completion of the transaction, the director now directly owns 30,674 shares in the company, valued at $367,781.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald S. Rolfe acquired 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $12.85 per share, with a total value of $25,700.00. Following the completion of the acquisition, the director now owns 32,147 shares of the company’s stock, valued at approximately $413,088.95. The disclosure for this purchase can be found here. 1.92% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of Time by 53.8% in the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock worth $48,129,000 after buying an additional 870,200 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Time during the first quarter worth about $602,000. Nisa Investment Advisors LLC boosted its position in shares of Time by 5.7% in the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock worth $302,000 after buying an additional 840 shares during the last quarter. Advantus Capital Management Inc boosted its position in shares of Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock worth $246,000 after buying an additional 389 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Time by 4.8% in the first quarter. New York State Teachers Retirement System now owns 198,106 shares of the company’s stock worth $3,833,000 after buying an additional 9,000 shares during the last quarter. 91.70% of the stock is owned by institutional investors.

Several analysts recently issued reports on TIME shares. Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Thursday, June 15th. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine cut shares of Time from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub cut shares of Time from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Wells Fargo & Company cut shares of Time from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.40.

About Time

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.

Earnings History for Time (NYSE:TIME)

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