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Published: Thu, November 03, 2016
Economy | By Melissa Porter

Time Warner Revenue Jumps 9.2%

Time Warner Revenue Jumps 9.2%

The company's adjusted operating profit rose 12% to $2.1 billion, or $1.83 a share. The firm's revenue was up 9.2% compared to the same quarter previous year.

Allergan plc Ordinary Shares (NYSE:AGN) stock fell over 4.6% (as of mid-session) as the group reported a lower than estimated performance. Now shares have been rated as "Buy" from 5 Analysts.

Stock: Shares have been trading below their key 200-day moving average since the early summer, and only in recent weeks popped their head back above the 50-day line. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.82%. Time Warner's dividend payout ratio (DPR) is presently 32.01%. On average, equities research analysts anticipate that Time Warner Inc. will post $5.43 earnings per share for the current year.

Time Warner told analysts that Warner Bros. likely will drive the company's Q4 results with the release this month of Fantastic Beasts And Where To Find Them. They set a "buy" rating and a $90.00 price target for the company. It will take months for regulatory approvals to go through and until the ink is dry, any other company can make a competing bid and Time Warner being a publicly listed company has an obligation to its shareholders to consider competing bids. The company also boosted its full year forecast.

The majority of the sell side firms have a bullish view on the stock. The consensus price target stands at $95.36 reflecting an 8.06% upside over yesterday's close. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Repurchased shares worth about $660 million since August 3. The disclosure for this sale can be found here.

"Most of creative input comes from outside the company, in partnership with us", Bewkes added. Without that benefit, the outlook for 2016 adjusted EPS would be $5.45 to $5.55.

Zacks Rank: Currently, Time Warner carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. Now shares have been rated as "Buy" from 9 Analysts. 24 presented the recommendations about the stock as a "Buy" signal and "Overweight" signal was reported by 2. Finally, AMP Capital Investors Ltd increased its position in shares of Time Warner by 5.0% in the first quarter. Corporate insiders own 0.16% of the company's stock.

On the call, Time Warner general counsel Paul Cappuccio said the company was looking into the license situation. The decision unanimously approved by both boards- would give the telecom giant control over cable TV channels such as CNN, HBO and TNT, film studio Warner Bros and other media assets.

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