Royal Bank of Canada reduced its stake in Time Warner Inc (NYSE:TWX) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,509,376 shares of the media conglomerate’s stock after selling 62,475 shares during the quarter. Royal Bank of Canada owned approximately 0.19% of Time Warner worth $142,757,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. McKinley Carter Wealth Services Inc. bought a new position in Time Warner in the 1st quarter worth $128,000. Atlantic Trust Group LLC increased its stake in Time Warner by 1.6% in the 1st quarter. Atlantic Trust Group LLC now owns 466,257 shares of the media conglomerate’s stock worth $44,099,000 after buying an additional 7,146 shares in the last quarter. Arbor Wealth Management LLC purchased a new stake in Time Warner in the 1st quarter worth $3,748,000. PVG Asset Management Corp purchased a new stake in Time Warner in the 1st quarter worth $850,000. Finally, Contour Asset Management LLC purchased a new stake in Time Warner in the 1st quarter worth $88,895,000. 78.93% of the stock is currently owned by institutional investors.
Time Warner opened at $98.77 on Wednesday, according to MarketBeat Ratings. The company has a quick ratio of 1.01, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $77.27 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.82 and a beta of 0.88. Time Warner Inc has a 12 month low of $85.88 and a 12 month high of $103.90.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Thursday, April 26th. The media conglomerate reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.54. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.93 billion. Time Warner had a return on equity of 19.99% and a net margin of 17.33%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 EPS. analysts anticipate that Time Warner Inc will post 8.16 earnings per share for the current year.
A number of equities research analysts have issued reports on TWX shares. UBS Group upgraded Time Warner from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.26 to $108.00 in a research note on Monday, March 12th. ValuEngine lowered Time Warner from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Barrington Research reiterated a “buy” rating on shares of Time Warner in a research note on Tuesday, April 17th. Pivotal Research cut their price target on Time Warner from $105.00 to $101.00 and set a “hold” rating for the company in a research note on Friday, April 27th. Finally, Loop Capital lowered Time Warner from a “buy” rating to a “hold” rating and set a $107.50 price target for the company. in a research note on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company. Time Warner has a consensus rating of “Hold” and an average price target of $103.42.
Time Warner Profile
Time Warner Inc operates as a media and entertainment company in the United States and internationally. It operates through three segments: Turner, Home Box Office, and Warner Bros. The Turner segment creates and programs branded news, entertainment, sports, and kids multi-platform content for consumers.
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