Time Warner’s (TWX) Hold Rating Reiterated at Jefferies Group LLC
Time Warner Inc. (NYSE:TWX)‘s stock had its “hold” rating reissued by analysts at Jefferies Group LLC in a report released on Sunday, July 30th, Marketbeat Ratings reports. They currently have a $105.00 price target on the media conglomerate’s stock, up from their prior price target of $102.42. Jefferies Group LLC’s price objective suggests a potential upside of 3.04% from the stock’s previous close.
TWX has been the subject of several other reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Rosenblatt Securities started coverage on shares of Time Warner in a report on Tuesday, April 4th. They issued a “neutral” rating and a $105.00 price target for the company. Pivotal Research lowered shares of Time Warner from a “buy” rating to a “hold” rating and boosted their price target for the stock from $100.00 to $107.50 in a report on Thursday, April 20th. BMO Capital Markets reissued a “hold” rating and issued a $108.00 price target on shares of Time Warner in a report on Friday, May 19th. Finally, FBR & Co reissued a “buy” rating and issued a $107.50 price target on shares of Time Warner in a report on Friday, April 7th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Time Warner presently has a consensus rating of “Hold” and a consensus price target of $102.25.
Shares of Time Warner (TWX) traded down 0.04% during mid-day trading on Friday, hitting $101.90. 2,326,218 shares of the stock were exchanged. The stock’s 50-day moving average price is $100.86 and its 200-day moving average price is $98.86. Time Warner has a 52-week low of $74.27 and a 52-week high of $103.34. The company has a market cap of $79.26 billion, a P/E ratio of 18.91 and a beta of 1.05.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.14. The firm had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. Equities research analysts anticipate that Time Warner will post $6.09 earnings per share for the current fiscal year.
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In related news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were bought at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Jacobi Capital Management LLC raised its stake in shares of Time Warner by 2.1% in the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after buying an additional 20 shares during the period. Bellwether Investment Group LLC raised its stake in shares of Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after buying an additional 146 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after buying an additional 100 shares during the period. Harfst & Associates Inc. raised its stake in shares of Time Warner by 31.6% in the second quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after buying an additional 288 shares during the period. Finally, Carroll Financial Associates Inc. raised its stake in shares of Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock worth $122,000 after buying an additional 33 shares during the period. Institutional investors own 80.02% of the company’s stock.
About Time Warner
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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