BidaskClub Downgrades Time Inc. (TIME) to Strong Sell

Time Inc. (NYSE:TIME) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

TIME has been the topic 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 report on Wednesday, October 11th. ValuEngine downgraded shares of Time from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Time presently has an average rating of “Hold” and an average target price of $14.67.

Time (TIME) opened at 12.15 on Friday. Time has a one year low of $11.65 and a one year high of $20.40. The company has a 50-day moving average of $12.94 and a 200 day moving average of $13.99. The firm’s market capitalization is $1.21 billion.

Time (NYSE:TIME) last posted its earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The business had revenue of $694.00 million for the quarter, compared to analyst estimates of $698.66 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm’s quarterly revenue 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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A number of hedge funds have recently made changes to their positions in TIME. BlackRock Inc. increased its stake in Time by 15,894.7% during the 1st quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock valued at $204,781,000 after purchasing an additional 10,516,743 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Time during the 1st quarter valued at $29,239,000. Dimensional Fund Advisors LP increased its stake in Time by 21.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock valued at $86,128,000 after purchasing an additional 1,078,946 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Time by 200.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,200,000 shares of the company’s stock valued at $17,220,000 after purchasing an additional 800,000 shares in the last quarter. Finally, Fairpointe Capital LLC increased its stake in Time by 7.9% during the 2nd quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock valued at $151,866,000 after purchasing an additional 779,303 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

About Time

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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