Gabelli lowered shares of Time (NYSE:TIME) from a buy rating to a hold rating in a report released on Friday, November 17th, MarketBeat.com reports.
Several other equities analysts have also issued reports on TIME. ValuEngine upgraded Time from a hold rating to a buy rating in a research note on Thursday, November 16th. BidaskClub upgraded Time from a strong sell rating to a sell rating in a research note on Tuesday, November 14th. Zacks Investment Research raised Time from a sell rating to a hold rating in a report on Saturday, November 11th. Finally, Morgan Stanley cut their price objective on Time from $14.00 to $13.00 and set an equal weight rating for the company in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Time presently has an average rating of Hold and a consensus target price of $14.00.
Shares of Time (NYSE:TIME) traded down $0.20 during midday trading on Friday, hitting $18.50. 1,902,196 shares of the company traded hands, compared to its average volume of 1,446,135. The stock has a market capitalization of $1,850.00, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 3.53 and a beta of 1.06. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88. Time has a 12 month low of $9.90 and a 12 month high of $20.40.
Time (NYSE:TIME) last posted its earnings results on Thursday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $693.65 million. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. equities analysts predict that Time will post 1.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.86%. Time’s payout ratio is currently -800.00%.
A number of large investors have recently added to or reduced their stakes in the stock. AMG Funds LLC lifted its holdings in shares of Time by 5.7% in the 2nd quarter. AMG Funds LLC now owns 143,337 shares of the company’s stock valued at $2,057,000 after buying an additional 7,788 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Time by 5.2% in the 2nd quarter. Wells Fargo & Company MN now owns 208,596 shares of the company’s stock valued at $2,993,000 after buying an additional 10,342 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Time by 1.8% in the 2nd 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. Piedmont Investment Advisors LLC acquired a new stake in shares of Time in the 2nd quarter valued at approximately $309,000. Finally, Strs Ohio lifted its holdings in shares of Time by 21.3% in the 2nd quarter. Strs Ohio now owns 71,100 shares of the company’s stock valued at $1,020,000 after buying an additional 12,500 shares during the period. Hedge funds and other institutional investors own 88.23% of the company’s stock.
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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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