This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

'Man of Steel' Drives Time Warner Toward 12-Month High

NEW YORK ( TheStreet) - Time Warner (TWX - Get Report) was gaining for the third day in four fueled by ticket sales from "Man of Steel," the media conglomerate's revival of the Superman series that brought $113.1 million over the weekend.

Shares of New York-based Time Warner were rising 1.7% to $58.95, moving nearer to the stock's 12-month high of $61.52 reached on May 7.

Time Warner, which has gained 23% this year, is rated a buy by 23 out of 33 analysts, according to data compiled by Bloomberg. The shares trade at 16.8 times estimated earnings, even with the S&P 500 Media Index of the largest U.S. stocks in the sector, which trades at 16.9 times forward earnings.

Box office demand for "Man of Steel" starring Henry Cavill, Amy Adams and Michael Shannon, exceeded the forecast of Well Fargo analyst Marci Ryvicker by $3.1 million, and generated the highest June debut ever by a movie, according to the investment bank. Time Warner's box office sales growth of 13.5% in 2013 trails only Viacom (VIAB - Get Report) at 17.8%, according to Wells Fargo.

Sony (SNE - Get Report)'s "This is the End" came in second over the weekend with $20.5 million in box office sales.

-- Written by Leon Lazaroff in New York

>To contact the writer of this article, click here: Leon Lazaroff

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
SNE $30.01 0.00%
TWX $83.40 0.00%
VIAB $69.14 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs