Time Warner Inc. (NYSE:TWX) had its price target boosted by analysts at Royal Bank Of Canada from $92.00 to $95.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “outperform” rating on the media conglomerate’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 22.06% from the company’s current price.
Shares of Time Warner (NYSE:TWX) opened at 77.83 on Thursday. The company has a market capitalization of $61.21 billion and a PE ratio of 15.62. The stock’s 50 day moving average price is $75.48 and its 200-day moving average price is $72.61. Time Warner has a 1-year low of $55.53 and a 1-year high of $82.56.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. During the same quarter in the prior year, the company earned $1.25 EPS. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.12 billion. Time Warner’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Time Warner will post $5.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 2.07%.
In other news, Director Kenneth J. Novack sold 8,400 shares of Time Warner stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $74.61, for a total value of $626,724.00. Following the completion of the transaction, the director now owns 9,031 shares in the company, valued at approximately $673,802.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey L. Bewkes sold 272,710 shares of Time Warner stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $74.26, for a total value of $20,251,444.60. Following the completion of the transaction, the chief executive officer now owns 354,823 shares of the company’s stock, valued at approximately $26,349,155.98.
Read full story at http://www.thecerbatgem.com/2016/08/04/time-warner-inc-twx-pt-raised-to-95-00/
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