Synovus Financial Corp Acquires 268 Shares of Time Warner Inc. (TWX)
Synovus Financial Corp grew its holdings in Time Warner Inc. (NYSE:TWX) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,298 shares of the media conglomerate’s stock after purchasing an additional 268 shares during the quarter. Synovus Financial Corp’s holdings in Time Warner were worth $1,131,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Waldron LP lifted its stake in Time Warner by 137.7% in the first quarter. Waldron LP now owns 5,340 shares of the media conglomerate’s stock worth $508,000 after acquiring an additional 3,093 shares during the last quarter. Affinity Investment Advisors LLC purchased a new position in Time Warner in the first quarter worth approximately $274,000. State Treasurer State of Michigan lifted its stake in Time Warner by 0.4% in the first quarter. State Treasurer State of Michigan now owns 533,927 shares of the media conglomerate’s stock worth $52,170,000 after acquiring an additional 2,100 shares during the last quarter. Eqis Capital Management Inc. lifted its stake in Time Warner by 15.7% in the first quarter. Eqis Capital Management Inc. now owns 5,679 shares of the media conglomerate’s stock worth $555,000 after acquiring an additional 771 shares during the last quarter. Finally, British Airways Pensions Investment Management Ltd purchased a new position in Time Warner in the first quarter worth approximately $11,632,000. 79.16% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on TWX shares. BidaskClub downgraded shares of Time Warner from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $105.00 price target on shares of Time Warner in a research note on Monday, May 22nd. Barclays PLC downgraded shares of Time Warner from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $95.00 to $107.00 in a research note on Friday, August 4th. Finally, Cowen and Company reiterated a “hold” rating and issued a $107.50 price target on shares of Time Warner in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $102.25.
Time Warner Inc. (TWX) opened at 101.97 on Tuesday. The company has a 50-day moving average of $101.64 and a 200-day moving average of $99.74. The stock has a market capitalization of $79.31 billion, a price-to-earnings ratio of 18.92 and a beta of 1.04. Time Warner Inc. has a 52-week low of $74.68 and a 52-week high of $103.34.
Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts expect that Time Warner Inc. will post $6.10 EPS for the current year.
Time Warner Profile
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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