Time Inc. (NYSE:TIME) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.
Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. ValuEngine lowered Time from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.40.
Shares of Time (TIME) opened at 12.90 on Wednesday. The company has a 50 day moving average of $13.12 and a 200-day moving average of $14.97. The firm’s market capitalization is $1.28 billion. Time has a 12 month low of $11.65 and a 12 month high of $20.40.
Time (NYSE:TIME) last announced its earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The company had revenue of $694.00 million during the quarter, compared to the consensus estimate of $698.66 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s revenue was down 9.8% on a year-over-year basis. Analysts predict that Time will post $1.10 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of TIME. BlackRock Inc. lifted its stake in Time by 15,894.7% in the first quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock valued at $204,781,000 after buying an additional 10,516,743 shares during the period. Point72 Asset Management L.P. acquired a new position in Time in the first quarter valued at approximately $29,239,000. Dimensional Fund Advisors LP lifted its stake in Time by 21.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock valued at $86,128,000 after buying an additional 1,078,946 shares during the period. Renaissance Technologies LLC lifted its stake in Time by 53.8% in the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock valued at $48,129,000 after buying an additional 870,200 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Time by 200.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,200,000 shares of the company’s stock valued at $17,220,000 after buying an additional 800,000 shares during the period. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
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.
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