OMERS ADMINISTRATION Corp bought a new stake in Time Warner Inc. (NYSE:TWX) during the third quarter, Holdings Channel reports. The firm bought 20,500 shares of the media conglomerate’s stock, valued at approximately $1,632,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. raised its position in shares of Time Warner by 3,072.6% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 45,431 shares of the media conglomerate’s stock valued at $3,340,000 after buying an additional 43,999 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Time Warner by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 24,799 shares of the media conglomerate’s stock valued at $1,823,000 after buying an additional 1,700 shares during the last quarter. Bank of Montreal Can bought a new position in Time Warner during the second quarter worth about $41,813,000. Douglas Lane & Associates LLC raised its position in Time Warner by 36.6% in the second quarter. Douglas Lane & Associates LLC now owns 10,394 shares of the media conglomerate’s stock worth $764,000 after buying an additional 2,786 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC bought a new position in Time Warner during the second quarter worth about $1,670,000. Institutional investors own 80.14% of the company’s stock.
Time Warner Inc. (NYSE:TWX) traded up 0.61% during trading on Thursday, reaching $95.69. The company’s stock had a trading volume of 4,867,216 shares. The firm’s 50-day moving average is $94.93 and its 200-day moving average is $84.49. The stock has a market cap of $73.79 billion, a P/E ratio of 17.02 and a beta of 1.07. Time Warner Inc. has a 52-week low of $55.53 and a 52-week high of $97.21.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, November 2nd. The media conglomerate reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.46. The company earned $7.20 billion during the quarter, compared to analysts’ expectations of $6.92 billion. Time Warner had a return on equity of 18.95% and a net margin of 15.75%. Time Warner’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. Equities research analysts forecast that Time Warner Inc. will post $5.80 EPS for the current year.
TWX has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on Time Warner from $105.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, October 24th. Goldman Sachs Group Inc. lowered Time Warner from a “conviction-buy” rating to a “neutral” rating and boosted their price objective for the company from $93.00 to $103.00 in a research report on Monday, October 24th. FBR & Co boosted their price objective on Time Warner from $81.00 to $97.00 and gave the company a “mkt perform” rating in a research report on Monday, October 24th. Wunderlich restated a “buy” rating and set a $106.00 price objective on shares of Time Warner in a research report on Monday, October 24th. Finally, Wedbush restated a “neutral” rating and set a $105.00 price objective (up previously from $90.00) on shares of Time Warner in a research report on Monday, October 24th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Time Warner presently has a consensus rating of “Buy” and a consensus target price of $96.16.
Time Warner Company Profile
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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