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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model NEW YORK ( TheStreet) -- Time Warner (NYSE: TWX) hit a new 52-week high Friday as it is currently trading at $44.85, above its previous 52-week high of $44.48 with 2.9 million shares traded as of 11:20 a.m. ET. Average volume has been 7.6 million shares over the past 30 days. Time Warner has a market cap of $40.87 billion and is part of the services sector and media industry. Shares are up 22.7% year to date as of the close of trading on Thursday. Time Warner Inc. operates as a media and entertainment company in the United States and internationally. It operates in three segments: Networks, Film and TV Entertainment, and Publishing. The company has a P/E ratio of 16.8, equal to the average media industry P/E ratio and below the S&P 500 P/E ratio of 17.7.