BidaskClub Lowers Time Inc. (TIME) to Sell

BidaskClub downgraded shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

A number of other equities research analysts also recently commented on TIME. Macquarie downgraded Time from an outperform rating to a neutral rating and set a $15.00 target price for the company. in a report on Thursday, June 15th. Zacks Investment Research downgraded Time from a hold rating to a sell rating in a report on Thursday, July 20th. Finally, ValuEngine raised Time from a hold rating to a buy rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of Hold and an average target price of $14.67.

Time (NYSE:TIME) opened at 12.70 on Tuesday. The firm has a 50-day moving average price of $13.02 and a 200-day moving average price of $14.25. The stock’s market cap is $1.26 billion. Time has a 12 month low of $11.65 and a 12 month high of $20.40.

Time (NYSE:TIME) last released its earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The firm had revenue of $694.00 million for the quarter, compared to analyst estimates of $698.66 million. During the same period last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts expect that Time will post $1.10 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, August 29th. Time’s dividend payout ratio is currently -12.31%.

A number of hedge funds have recently made changes to their positions in TIME. BlackRock Inc. raised its position in Time by 15,894.7% during the first quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock valued at $204,781,000 after acquiring an additional 10,516,743 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Time during the first quarter valued at approximately $29,239,000. Dimensional Fund Advisors LP raised its position in Time by 21.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock valued at $86,128,000 after acquiring an additional 1,078,946 shares in the last quarter. Renaissance Technologies LLC raised its position in Time by 53.8% during the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock valued at $48,129,000 after acquiring an additional 870,200 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in Time by 200.0% during 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 acquiring an additional 800,000 shares in the last quarter. Institutional investors own 90.06% 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.

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