Time Inc. (TIME) Downgraded by BidaskClub

BidaskClub lowered shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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

Shares of Time (NYSE:TIME) opened at 12.80 on Tuesday. Time has a 52-week low of $11.65 and a 52-week high of $20.40. The firm has a 50-day moving average of $13.02 and a 200 day moving average of $14.29. The company’s market capitalization is $1.27 billion.

Time (NYSE:TIME) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The business had revenue of $694.00 million during the quarter, compared to analyst estimates of $698.66 million. During the same quarter last year, the business earned $0.22 earnings per share. Time’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts anticipate that Time will post $1.10 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.16 dividend on an annualized basis and a yield of 1.25%. Time’s payout ratio is -12.31%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Time by 16.0% during the second quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock worth $176,209,000 after buying an additional 1,696,311 shares during the last quarter. Fairpointe Capital LLC boosted its position in Time by 7.9% during the second quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after purchasing an additional 779,303 shares during the period. Vanguard Group Inc. boosted its position in Time by 1.8% during the second quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock worth $124,672,000 after purchasing an additional 154,543 shares during the period. Dimensional Fund Advisors LP boosted 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 worth $86,128,000 after purchasing an additional 1,078,946 shares during the period. Finally, Omega Advisors Inc. boosted its position in Time by 12.1% during the first quarter. Omega Advisors Inc. now owns 4,362,604 shares of the company’s stock worth $84,416,000 after purchasing an additional 469,349 shares during the period. Institutional investors and hedge funds 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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