'Wonder Woman' gives Time Warner earnings a boost

Andrew Cummings
August 2, 2017

Valley National Advisers Inc.'s holdings in Time Warner were worth $168,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in TWX. Patriot Financial Group Insurance Agency LLC increased its stake in Time Warner by 9.9% in the first quarter. USA Financial Portformulas Corp purchased a new stake in shares of Time Warner during the fourth quarter valued at $3,874,000. Stevens First Principles Investment Advisors now owns 2,127 shares of the media conglomerate's stock worth $208,000 after buying an additional 736 shares during the period.

United States entertainment firm Time Warner saw its profits rise by 11.6% in the second quarter thanks to the release of blockbuster films such as Wonder Woman. The firm owned 48,726,247 shares of the media conglomerate's stock after buying an additional 1,740,936 shares during the period.

Canyon Capital Advisors Llc, which manages about $20.20 billion and $2.98 billion US Long portfolio, upped its stake in Yahoo Inc (NASDAQ:YHOO) by 4.07M shares to 24.87 million shares, valued at $961.72M in 2016Q4, according to the filing.

Vanguard Group Inc. raised its position in shares of Time Warner Inc. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate's stock valued at $122,000 after buying an additional 33 shares in the last quarter. Institutional investors own 79.78% of the company's stock.

Time Warner Inc. has a 12-month low of $74.27 and a 12-month high of $103.34. (NYSE TWX) traded up 0.07% during midday trading on Wednesday, reaching $102.49. Renaissance Technologies LLC now owns 2,678,334 shares of the media conglomerate's stock worth $261,700,000 after buying an additional 2,625,600 shares during the period. The stock has a market cap of $79.59 billion, a P/E ratio of 19.58 and a beta of 1.05. The firm has a 50-day moving average of $100.20 and a 200 day moving average of $98.55.

Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 2nd.

Time Warner saw its net income rise to $1.1bn for the three months ended 30 June, with a strong performance from its Warner Bros film division aiding the rise. Revenues of $7.33 billion were up over 5% year-over-year and narrowly beat expectations of $7.32 billion. In the latest earnings report the EPS was $5.24 and is estimated to be $6.04 for the current year with 775,537,000 shares now outstanding.

Time Warner reported a 6 percent drop in ad revenue in the last quarter, which it attributed partly to having fewer NBA and high-profile college basketball games than a year ago.

The company reaffirmed its outlook for the full year and said it expects to close its merger with AT&T before the end of this year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Thursday, July 6th. $16.67M worth of Time Warner Inc (NYSE:TWX) shares were sold by BEWKES JEFFREY L. "(TWX) Stake Boosted by Vanguard Group Inc." was first published by Community Financial News and is the sole property of of Community Financial News.

When AT&T takes over, its executive John Stankey will oversee the Time Warner businesses, AT&T said last week. BidaskClub downgraded shares of Time Warner from a "buy" rating to a "hold" rating in a report on Wednesday, July 19th. FBR & Co restated a "buy" rating and issued a $107.50 price objective on shares of Time Warner in a report on Friday, April 7th. Zacks Investment Research upgraded shares of Time Warner from a "hold" rating to a "buy" rating and set a $113.00 price objective for the company in a research note on Thursday, July 13th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Time Warner in a research report on Thursday, July 6th. (TSE:CBL), 2 have Buy rating, 0 Sell and 2 Hold. Analysts covering the shares have a consensus short-term price target of $106.05 on the equity. The shares were bought at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33.

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