Time Inc (TIME) was Initiated by Macquarie to “Outperform” and the brokerage firm has set the Price Target at $17. Macquarie advised their investors in a research report released on May 19, 2016.
On the company’s financial health, Time Inc reported $-0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.16. The company had revenue of $690.00 million for the quarter, compared to analysts expectations of $675.39 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Time Inc closed down -0.03 points or -0.21% at $13.97 with 9,35,745 shares getting traded on Monday. Post opening the session at $14.03, the shares hit an intraday low of $13.8399 and an intraday high of $14.15 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Investors should note that on May 5, 2016, Time Inc announced a cash dividend of $0.1900. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 15, 2016.
In a different news, on May 10, 2016, David Arthur Bell (director) purchased 5,000 shares at $15.06 per share price. According to the SEC, on Mar 17, 2016, Mark Ford (EVP, Advertising) sold 4,176 shares at $14.87 per share price. On Feb 24, 2016, Ronald S Rolfe (director) purchased 1,000 shares at $14.01 per share price, according to the Form-4 filing with the securities and exchange commission.
Time Inc. is a media company. The Company’s brands include People Sports Illustrated InStyle Time Real Simple Southern Living Entertainment Weekly Travel + Leisure Cooking Light Fortune and Food & Wine as well as approximately 50 titles in the United Kingdom such as Decanter and Horse & Hound. The Company is engaged in celebrated events and franchises including the Fortune 500 Time 100 People’s Sexiest Man Alive Sports Illustrated’s Sportsman of the Year the Food & Wine Classic in Aspen the Essence Festival and the biennial Fortune Global Forum. It also provides content marketing targeted local print and digital advertising programs book publishing and marketing and support services including subscription sales services for magazines and other products retail distribution and marketing services and customer service and fulfillment services for the Company and third-party customers including other magazine publishers.