According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “
TIME has been the topic of several other research reports. Citigroup Inc. reduced their target price on shares of Time from $18.00 to $17.00 and set a buy rating on the stock in a research note on Tuesday, September 27th. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $17.17.
Time (NYSE:TIME) opened at 13.50 on Thursday. The firm’s market capitalization is $1.35 billion. Time has a one year low of $12.23 and a one year high of $19.56. The firm has a 50 day moving average of $14.40 and a 200 day moving average of $15.23.
Time (NYSE:TIME) last issued its earnings results on Thursday, August 4th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $769 million for the quarter, compared to the consensus estimate of $782.49 million. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that Time will post $1.24 EPS for the current year.
The business 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. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 annualized dividend and a yield of 5.63%. Time’s dividend payout ratio (DPR) is -9.42%.
A number of hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Time during the first quarter valued at $557,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Time during the first quarter valued at $494,000. Spark Investment Management LLC boosted its stake in shares of Time by 42.7% in the first quarter. Spark Investment Management LLC now owns 237,200 shares of the company’s stock valued at $3,662,000 after buying an additional 71,000 shares in the last quarter. A.R. Schmeidler & Co. Inc. boosted its stake in shares of Time by 81.4% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 23,298 shares of the company’s stock valued at $360,000 after buying an additional 10,456 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Time by 28.5% in the first quarter. BlackRock Group LTD now owns 81,750 shares of the company’s stock valued at $1,262,000 after buying an additional 18,121 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other 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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