Swiss National Bank Holds Stake in Time Inc. (TIME)
Swiss National Bank maintained its stake in shares of Time Inc. (NYSE:TIME) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,958 shares of the company’s stock at the end of the 2nd quarter. Swiss National Bank owned about 0.16% of Time worth $2,338,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of TIME. Renaissance Technologies LLC grew its holdings in shares of Time by 53.8% during the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock worth $48,129,000 after buying an additional 870,200 shares in the last quarter. First Trust Advisors LP bought a new stake in Time in the 1st quarter valued at approximately $602,000. Advantus Capital Management Inc lifted its stake in Time by 3.2% in the 1st quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock valued at $246,000 after acquiring an additional 389 shares in the last quarter. Strs Ohio lifted its stake in 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 acquiring an additional 12,500 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Time by 4.8% in the 1st quarter. New York State Teachers Retirement System now owns 198,106 shares of the company’s stock valued at $3,833,000 after acquiring an additional 9,000 shares in the last quarter. 90.06% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on TIME shares. BidaskClub raised Time from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. ValuEngine upgraded shares of Time from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Time from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Macquarie lowered shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Time currently has a consensus rating of “Hold” and an average price target of $15.00.
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Time Inc. (TIME) opened at 13.75 on Tuesday. Time Inc. has a one year low of $11.65 and a one year high of $20.40. The company’s market cap is $1.37 billion. The stock has a 50 day moving average price of $12.93 and a 200 day moving average price of $14.58.
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 the Thomson Reuters’ 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 previous year, the company posted $0.22 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities analysts anticipate that Time Inc. will post $1.10 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Tuesday, August 29th. Time’s dividend payout ratio is currently -12.31%.
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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