Time Warner Inc (TWX) is Downgraded by Wedbush to Neutral, Lowers Price Target to $ 90

Time Warner Inc (TWX) was Downgraded by Wedbush to ” Neutral” while Lowering the Price Target of the company shares to $ 90 from a previous price target of $90 . Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Oct 17, 2016.

Many Wall Street Analysts have commented on Time Warner Inc. Company shares were Reiterated by Wunderlich on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 106 from a previous price target of $95 .Company shares were Reiterated by Wedbush on Aug 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 90 from a previous price target of $88 .Company shares were Reiterated by RBC Capital Mkts on Aug 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 95 from a previous price target of $92 .

On the company’s financial health, Time Warner Inc reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.16. The company had revenue of $6952.00 million for the quarter, compared to analysts expectations of $7065.42 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.25 EPS.

Time Warner Inc opened for trading at $79.74 and hit $80.08 on the upside on Friday, eventually ending the session at $79.55, with a gain of 0.19% or 0.15 points. The heightened volatility saw the trading volume jump to 24,49,102 shares. Company has a market cap of $61,877 M.

In a different news, on Sep 8, 2016, Paul T Cappuccio (EVP and General Counsel) sold 56,595 shares at $78.24 per share price. According to the SEC, on Jun 10, 2016, Kenneth J Novack (director) sold 8,400 shares at $74.61 per share price. On Jun 6, 2016, Gary L Ginsberg (Executive Vice President) sold 3,000 shares at $75.79 per share price, according to the Form-4 filing with the securities and exchange commission.

Time Warner Inc. (Time Warner) is a media and entertainment company. The Company operates in three segments: Turner which consists of cable networks and digital media properties; Home Box Office which consists of domestic premium pay television services and international premium pay and basic tier television services and Warner Bros. which consists of television feature film home video and videogame production and distribution of digital and physical home entertainment products. Turner operates over 165 channels globally. In the United States its networks and related properties include TNT TBS Adult Swim truTV Turner Classic Movies Turner Sports Cartoon Network Boomerang CNN and HLN. Outside the United States Turner’s portfolio of brands and digital businesses reaches consumers in over 200 countries.

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