Time Inc (TIME) Could Burn Your Portfolio. The Stock Formed Bearish Double Bottom Chart Pattern

September 17, 2017 - By Migdalia James

The chart of Time Inc (TIME) shows a double bottom with $12.66 target or 3.00 % below today’s $13.05 share price. The 8 months chart pattern indicates high risk for the $1.30 billion company. It was reported on Sep, 17 by Finviz.com. If the $12.66 price target is reached, the company will be worth $39.00 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.51% or $0.2 on September 15, reaching $13.05. About 1.30 million shares traded or 50.78% up from the average. Time Inc (NYSE:TIME) has declined 15.24% since September 17, 2016 and is downtrending. It has underperformed by 31.94% the S&P500.

Wall Street await Time Inc (NYSE:TIME) to release earnings on November, 2. Analysts forecast earnings per share of $0.33, up exactly $0.02 or 6.45 % from 2014’s $0.31 EPS. The expected TIME’s profit could reach $32.87M giving the stock 9.89 P/E in the case that $0.33 earnings per share is reported. After posting $0.13 EPS for the previous quarter, Time Inc’s analysts now forecast 153.85 % EPS growth.

Time Inc (NYSE:TIME) Ratings Coverage

Among 6 analysts covering Time (NYSE:TIME), 3 have Buy rating, 0 Sell and 3 Hold. Therefore 50% are positive. Time had 10 analyst reports since November 5, 2015 according to SRatingsIntel. Wells Fargo downgraded Time Inc (NYSE:TIME) on Friday, November 6 to “Market Perform” rating. The stock of Time Inc (NYSE:TIME) has “Outperform” rating given on Tuesday, January 10 by Wells Fargo. The stock of Time Inc (NYSE:TIME) has “Outperform” rating given on Thursday, May 19 by Macquarie Research. The company was maintained on Thursday, November 5 by FBR Capital. The firm earned “Outperform” rating on Friday, February 12 by FBR Capital. The rating was upgraded by Stephens on Monday, March 20 to “Equal-Weight”. Wells Fargo downgraded the shares of TIME in report on Friday, April 28 to “Market Perform” rating. As per Friday, February 12, the company rating was upgraded by Gabelli. The stock of Time Inc (NYSE:TIME) earned “Neutral” rating by Macquarie Research on Thursday, June 15. The stock of Time Inc (NYSE:TIME) has “Buy” rating given on Tuesday, August 9 by Citigroup.

More notable recent Time Inc (NYSE:TIME) news were published by: Businesswire.com which released: “Time Inc. Names Lenore Moritz Vice President, Publicity for Its Video and …” on September 11, 2017, also Nypost.com with their article: “Time Inc. is attracting bidders for its Tampa facilities” published on September 06, 2017, Reuters.com published: “Time Inc shifts toward video as eyeballs move online” on September 01, 2017. More interesting news about Time Inc (NYSE:TIME) were released by: Gurufocus.com and their article: “Standard General LP Buys Time Inc, Sells Turning Point Brands Inc, FBR” published on August 14, 2017 as well as Time.com‘s news article titled: “Edward Felsenthal Chosen To Lead TIME as New Editor” with publication date: September 14, 2017.

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