Citigroup Maintains Time Inc to Buy with Price Target $17.00

Brokerage firm Citigroup Maintains its rating on Time Inc(NYSE:TIME). In a research note issued to the investors, the brokerage major Lowers the price-target to $17.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Sep 27, 2016.

In a different note, On Aug 10, 2016, Citigroup said it Maintains its rating on Time Inc. In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 9, 2016, Citigroup said it Maintains its rating on Time Inc. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Buy’ by the firm.

Time Inc (TIME) made into the market gainers list on Fridays trading session with the shares advancing 0.70% or 0.1 points. Due to strong positive momentum, the stock ended at $14.48, which is also near the day’s high of $14.56. The stock began the session at $14.46 and the volume stood at 6,36,389 shares. The 52-week high of the shares is $20.01 and the 52 week low is $12.2325. The company has a current market capitalization of $1,449 M and it has 10,01,00,289 shares in outstanding.

Time Inc(TIME) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $769.00M. Analysts had an estimated revenue of $782.49M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.15.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, David Arthur Bell (director) purchased 5,000 shares at $15.06 per share price.Also, 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.

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