Time Inc (TIME) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $-0.16. The company posted revenue of $690.00 million in the period, 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.
Many Wall Street Analysts have commented on Time Inc. Shares were Reiterated by FBR Capital on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 15 from a previous price target of $20 .Gabelli & Co Upgraded Time Inc on Feb 12, 2016 to ” Buy”, Price Target of the shares are set at $20.
Time Inc opened for trading at $14.66 and hit $15 on the upside on Wednesday, eventually ending the session at $14.72, with a gain of 0.20% or 0.03 points. The heightened volatility saw the trading volume jump to 10,00,018 shares. Company has a market cap of $1,543 M.
In a different news, on Mar 17, 2016, Mark Ford (EVP, Advertising) sold 4,176 shares at $14.87 per share price. According to the SEC, on Mar 16, 2016, David Arthur Bell (director) purchased 3,400 shares at $14.76 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.