Time Inc. (TIME) to Issue Quarterly Dividend of $0.04 on December 15th
Time Inc. (NYSE:TIME) declared a quarterly dividend on Thursday, November 9th, Zacks reports. Stockholders of record on Thursday, November 30th will be paid a dividend of 0.04 per share on Friday, December 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Wednesday, November 29th.
Time has a payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Time to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 12.8%.
Time (NYSE:TIME) opened at $16.55 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. Time has a fifty-two week low of $9.90 and a fifty-two week high of $20.40. The stock has a market cap of $1,648.74, a P/E ratio of 15.61, a PEG ratio of 3.16 and a beta of 0.62.
Time (NYSE:TIME) last issued its earnings results on Thursday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $693.65 million. During the same quarter last year, the business earned $0.31 earnings per share. The business’s revenue was down 9.5% on a year-over-year basis. research analysts forecast that Time will post 1.05 EPS for the current fiscal year.
TIME has been the subject of a number of research analyst reports. BidaskClub lowered Time from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine raised Time from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Time has an average rating of “Hold” and a consensus target price of $12.80.
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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