Time Warner Inc (NYSE:TWX) – Investment analysts at Jefferies Group decreased their FY2017 earnings estimates for Time Warner in a research note issued to investors on Wednesday. Jefferies Group analyst J. Janedis now expects that the media conglomerate will post earnings per share of $6.29 for the year, down from their prior estimate of $6.30. Jefferies Group has a “Hold” rating and a $105.00 price target on the stock. Jefferies Group also issued estimates for Time Warner’s Q1 2018 earnings at $1.74 EPS, Q2 2018 earnings at $1.48 EPS, Q3 2018 earnings at $1.94 EPS and Q4 2018 earnings at $1.55 EPS.
TWX has been the topic of several other research reports. Zacks Investment Research downgraded Time Warner from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. Rosenblatt Securities upgraded Time Warner from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Monday, November 13th. Guggenheim restated a “buy” rating on shares of Time Warner in a report on Thursday, January 4th. Deutsche Bank restated a “buy” rating and set a $99.00 price objective on shares of Time Warner in a report on Friday, November 10th. Finally, Cowen restated a “hold” rating and set a $102.00 price objective on shares of Time Warner in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the stock. Time Warner presently has an average rating of “Hold” and a consensus target price of $105.13.
Time Warner (NYSE:TWX) last released its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The firm had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, January 9th. Time Warner’s dividend payout ratio is 30.61%.
In other Time Warner news, insider Olaf Olafsson sold 23,450 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total value of $2,111,203.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value of $29,867,180.70. Following the completion of the sale, the chief executive officer now owns 855,925 shares of the company’s stock, valued at $77,589,601.25. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Jacobi Capital Management LLC lifted its holdings in shares of Time Warner by 2.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after buying an additional 20 shares during the period. Bank of Nova Scotia Trust Co. bought a new position in shares of Time Warner in the 3rd quarter worth $102,000. Americafirst Capital Management LLC bought a new position in shares of Time Warner in the 3rd quarter worth $106,000. Zions Bancorporation raised its position in shares of Time Warner by 698.6% in the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock worth $117,000 after acquiring an additional 999 shares in the last quarter. Finally, Harfst & Associates Inc. raised its position in shares of Time Warner by 31.6% in the 2nd quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.
About Time Warner
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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