Albert Fried & Company restated their outperform rating on shares of Time Warner Inc. (NYSE:TWX) in a research report sent to investors on Thursday morning. The brokerage currently has a $90.00 price objective on the media conglomerate’s stock.
TWX has been the subject of a number of other research reports. FBR & Co cut Time Warner from an outperform rating to a market perform rating and set a $81.00 target price for the company. in a report on Tuesday, July 26th. Brean Capital reiterated a buy rating on shares of Time Warner in a report on Tuesday, July 26th. RBC Capital Markets reiterated an outperform rating and set a $95.00 target price (up previously from $92.00) on shares of Time Warner in a report on Thursday, August 4th. Royal Bank Of Canada boosted their target price on Time Warner from $92.00 to $95.00 and gave the stock an outperform rating in a report on Thursday, August 4th. Finally, Wells Fargo & Co. cut Time Warner to a hold rating in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Time Warner currently has an average rating of Buy and an average price target of $86.17.
Shares of Time Warner (NYSE:TWX) opened at 79.32 on Thursday. The stock’s 50 day moving average is $78.42 and its 200-day moving average is $75.79. The stock has a market cap of $61.70 billion, a price-to-earnings ratio of 15.78 and a beta of 1.21. Time Warner has a 12-month low of $55.53 and a 12-month high of $81.33.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. The company earned $7 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Equities analysts anticipate that Time Warner will post $5.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.4025 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.61 annualized dividend and a dividend yield of 2.03%. Time Warner’s dividend payout ratio (DPR) is 32.01%.
In other news, insider Karen Magee sold 14,240 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $79.97, for a total value of $1,138,772.80. Following the completion of the sale, the insider now owns 7,461 shares in the company, valued at $596,656.17. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul T. Cappuccio sold 56,595 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the sale, the executive vice president now owns 157,877 shares of the company’s stock, valued at approximately $12,352,296.48. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC increased its stake in shares of Time Warner by 3.8% in the first quarter. Fisher Asset Management LLC now owns 13,569 shares of the media conglomerate’s stock valued at $1,011,000 after buying an additional 500 shares in the last quarter. Virginia Retirement System bought a new stake in shares of Time Warner during the first quarter valued at approximately $940,000. CIBC World Markets Inc. increased its stake in shares of Time Warner by 38.1% in the first quarter. CIBC World Markets Inc. now owns 20,587 shares of the media conglomerate’s stock valued at $1,494,000 after buying an additional 5,681 shares in the last quarter. Icon Advisers Inc. Co. increased its stake in shares of Time Warner by 84.7% in the first quarter. Icon Advisers Inc. Co. now owns 57,800 shares of the media conglomerate’s stock valued at $4,193,000 after buying an additional 26,500 shares in the last quarter. Finally, Sound Shore Management Inc. CT increased its stake in shares of Time Warner by 21.5% in the first quarter. Sound Shore Management Inc. CT now owns 2,071,646 shares of the media conglomerate’s stock valued at $150,298,000 after buying an additional 365,899 shares in the last quarter. Institutional investors and hedge funds own 80.68% 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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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