Time Inc. (NYSE:TIME) – Equities researchers at Gabelli lowered their FY2021 earnings estimates for Time in a report issued on Friday. Gabelli analyst B. Lucas now forecasts that the company will post earnings per share of $1.80 for the year, down from their prior forecast of $1.90.
Time (NYSE:TIME) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.08. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $693.65 million. During the same quarter last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis.
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Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Time from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Morgan Stanley decreased their price target on shares of Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Time has an average rating of “Hold” and an average price target of $14.25.
Time (NYSE:TIME) remained flat at $$10.95 during midday trading on Monday. 1,040,500 shares of the company traded hands, compared to its average volume of 1,248,823. Time has a 12 month low of $9.90 and a 12 month high of $20.40. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1,090.86, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62.
A number of institutional investors have recently bought and sold shares of TIME. BlackRock Inc. boosted its stake in Time by 15,894.7% in the 1st quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock worth $204,781,000 after purchasing an additional 10,516,743 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 buying an additional 1,078,946 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of 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 buying an additional 800,000 shares during the period. Fairpointe Capital LLC boosted its stake in shares of 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 buying an additional 779,303 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Time by 22.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 3,315,419 shares of the company’s stock valued at $47,576,000 after buying an additional 618,650 shares during the period. 88.84% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.16 annualized dividend and a yield of 1.46%. Time’s dividend payout ratio (DPR) is -533.16%.
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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