Morgan Stanley Cuts Time Inc. (TIME) Price Target to $13.00

Time Inc. (NYSE:TIME) had its price target dropped by investment analysts at Morgan Stanley from $14.00 to $13.00 in a report issued on Monday. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 7.00% from the company’s current price.

A number of other research firms have also weighed in on TIME. BidaskClub lowered Time from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research lowered Time from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. Finally, ValuEngine raised Time from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.25.

Shares of Time (NYSE:TIME) traded down 1.23% during mid-day trading on Monday, hitting $12.00. The stock had a trading volume of 104,434 shares. The company’s market cap is $1.19 billion. The stock’s 50-day moving average is $12.94 and its 200 day moving average is $13.99. Time has a 12 month low of $11.65 and a 12 month high of $20.40.

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

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Time by 16.0% in the second quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock worth $176,209,000 after acquiring an additional 1,696,311 shares during the period. Fairpointe Capital LLC boosted its stake in shares of Time by 7.9% in the second quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after acquiring an additional 779,303 shares during the period. Vanguard Group Inc. boosted its stake in shares of Time by 1.8% in the second quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock worth $124,672,000 after acquiring an additional 154,543 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Time by 21.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock worth $86,128,000 after acquiring an additional 1,078,946 shares during the period. Finally, State Street Corp boosted its stake in shares of Time by 3.5% in the first quarter. State Street Corp now owns 3,435,769 shares of the company’s stock worth $66,477,000 after acquiring an additional 117,265 shares during the period. 89.68% of the stock is owned by hedge funds and other institutional investors.

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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