Will Time Inc. (TIME) Stock be Helped by Earnings Beat?
NEW YORK (TheStreet) -- Shares of Time Inc. (TIME) are flat in pre-market trading on Thursday, following the release of the company's third quarter earnings results before the opening bell today.
The New York City-based media company reported third quarter earnings of 32 cents per share on revenue that fell 5.8% to $773 million.
Analysts on average were expecting the company to report earnings of 27 cents per share on revenue of $769.3 million.
The decline in revenue was a result of print ad sales that continue to fall.
Additionally, the company has announced a share buyback authorization of up to $300 million.
Separately, TheStreet Ratings team rates TIME INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
We rate TIME INC (TIME) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself.
TIME
data by
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.