ValuEngine cut shares of Time Inc. (NYSE:TIME) from a buy rating to a hold rating in a report released on Friday.

TIME has been the subject of several other reports. BidaskClub upgraded shares of Time from a sell rating to a hold rating in a report on Wednesday, June 28th. 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 target price for the company. in a report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Time currently has a consensus rating of Hold and an average price target of $15.40.

Shares of Time (NYSE TIME) opened at 12.90 on Friday. The company’s market cap is $1.28 billion. Time has a 12 month low of $11.65 and a 12 month high of $20.40. The company’s 50-day moving average price is $13.49 and its 200-day moving average price is $15.46.

Time (NYSE:TIME) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 EPS 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 company had revenue of $694 million during the quarter, compared to analysts’ expectations of $698.66 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Analysts anticipate that Time will post $1.10 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, August 29th. Time’s dividend payout ratio (DPR) is currently -12.31%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position 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 valued at $48,129,000 after acquiring an additional 870,200 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Time during the first quarter valued at approximately $602,000. Nisa Investment Advisors LLC increased its position in shares of Time by 5.7% during the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock valued at $302,000 after acquiring an additional 840 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Time by 3.2% during the first 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. Finally, Strs Ohio increased its position in shares of Time by 21.3% during the second 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. 89.88% of the stock is owned by institutional investors.

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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