Time Inc. (NYSE:TIME) had its price target reduced by investment analysts at Citigroup Inc. from $18.00 to $17.00 in a report released on Tuesday. The firm presently has a “buy” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 15.65% from the company’s previous close.
TIME has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Time from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. TheStreet raised shares of Time from a “sell” rating to a “hold” rating in a research note on Monday, June 6th. Finally, Morgan Stanley set a $15.00 target price on shares of Time and gave the company a “hold” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Time presently has an average rating of “Hold” and an average price target of $17.17.
Time (NYSE:TIME) opened at 14.70 on Tuesday. The firm’s 50-day moving average price is $14.43 and its 200-day moving average price is $15.30. Time has a 1-year low of $12.23 and a 1-year high of $20.01. The company’s market cap is $1.47 billion.
Time (NYSE:TIME) last announced its earnings results on Thursday, August 4th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Time had a negative net margin of 28.56% and a positive return on equity of 6.36%. The business earned $769 million during the quarter, compared to the consensus estimate of $782.49 million. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts forecast that Time will post $1.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend was Monday, August 29th. Time’s dividend payout ratio (DPR) is currently -9.42%.
Several large investors have recently made changes to their positions in TIME. Windward Capital Management Co. CA increased its stake in shares of Time by 2.5% in the second quarter. Windward Capital Management Co. CA now owns 15,611 shares of the company’s stock valued at $257,000 after buying an additional 383 shares during the period. Amalgamated Bank increased its stake in shares of Time by 4.5% in the second quarter. Amalgamated Bank now owns 12,774 shares of the company’s stock valued at $177,000 after buying an additional 545 shares during the period. BlackRock Inc. increased its stake in shares of Time by 1.5% in the first quarter. BlackRock Inc. now owns 53,861 shares of the company’s stock valued at $831,000 after buying an additional 774 shares during the period. Suntrust Banks Inc. increased its stake in shares of Time by 5.5% in the second quarter. Suntrust Banks Inc. now owns 18,331 shares of the company’s stock valued at $300,000 after buying an additional 952 shares during the period. Finally, KCG Holdings Inc. increased its stake in shares of Time by 8.1% in the second quarter. KCG Holdings Inc. now owns 14,073 shares of the company’s stock valued at $232,000 after buying an additional 1,057 shares during the period. 93.52% of the stock is owned by institutional investors.
Time Company Profile
Time Inc is a media company. The Company’s brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as over 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound, and Wallpaper*.
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