Time Inc. (TIME) Upgraded to Buy at ValuEngine

Time Inc. (NYSE:TIME) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other equities research analysts have also commented on TIME. Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Thursday, June 15th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. BidaskClub lowered Time from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Wells Fargo & Company lowered Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Time currently has an average rating of “Hold” and an average price target of $15.40.

Time (NYSE:TIME) opened at 13.60 on Tuesday. Time has a one year low of $11.65 and a one year high of $20.40. The firm has a 50-day moving average price of $14.01 and a 200 day moving average price of $16.22. The company’s market cap is $1.35 billion.

Time (NYSE:TIME) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by $0.03. The company had revenue of $694 million during the quarter, compared to analysts’ expectations of $698.66 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. Equities analysts expect that Time will post $1.18 earnings per share for the current fiscal year.

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

A number of large investors have recently modified their holdings of the company. First Manhattan Co. raised its stake in shares of Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock worth $108,000 after buying an additional 118 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Time by 1.7% in the first quarter. Capstone Asset Management Co. now owns 19,030 shares of the company’s stock worth $368,000 after buying an additional 320 shares during the last quarter. Advantus Capital Management Inc raised its stake 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. State Treasurer State of Michigan raised its stake in shares of Time by 1.0% in the first quarter. State Treasurer State of Michigan now owns 40,337 shares of the company’s stock worth $781,000 after buying an additional 400 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in shares of Time by 2.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,570 shares of the company’s stock worth $289,000 after buying an additional 475 shares during the last quarter. Institutional investors and hedge funds own 91.70% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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