Several other analysts have also issued reports on the company. Gabelli lowered Time from a buy rating to a sell rating and set a $20.00 target price on the stock. in a report on Tuesday, November 28th. Evercore ISI assumed coverage on Time in a report on Friday, November 17th. They set an outperform rating and a $7.00 target price on the stock. ValuEngine upgraded Time from a hold rating to a buy rating in a report on Thursday, November 16th. BidaskClub upgraded Time from a strong sell rating to a sell rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research upgraded Time from a sell rating to a hold rating in a report on Saturday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $14.00.
Time (NYSE TIME) opened at $18.50 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1,850.00, a PE ratio of 17.45, a PEG ratio of 3.53 and a beta of 1.06. Time has a 52-week low of $9.90 and a 52-week high of $20.40.
Time (NYSE:TIME) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08. Time had a positive return on equity of 7.53% and a negative net margin of 0.10%. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $693.65 million. During the same period in the prior year, the firm earned $0.31 earnings per share. Time’s revenue for the quarter was down 9.5% compared to the same quarter last year. research analysts anticipate that Time will post 1.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.16 annualized dividend and a yield of 0.86%. Time’s dividend payout ratio is -800.00%.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Time by 16.0% in the second quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock valued at $176,209,000 after buying an additional 1,696,311 shares during the period. Fairpointe Capital LLC raised its stake in Time by 7.9% in the second quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock valued at $151,866,000 after buying an additional 779,303 shares during the period. Vanguard Group Inc. raised its stake in Time by 1.8% in the second quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock valued at $124,672,000 after buying an additional 154,543 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Time by 8.2% in the third quarter. Dimensional Fund Advisors LP now owns 6,491,422 shares of the company’s stock valued at $87,634,000 after purchasing an additional 489,457 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its position in shares of Time by 22.9% in the second quarter. Thrivent Financial For Lutherans now owns 3,315,419 shares of the company’s stock valued at $47,576,000 after purchasing an additional 618,650 shares during the last quarter. Hedge funds and other institutional investors own 88.23% of the company’s stock.
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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