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TIME

Time Inc.

$13.80

0.05 (0.36%)

06:04
08/08/17
08/08
06:04
08/08/17
06:04

Time Inc. reaffirms FY17 adjusted OIBDA view

CEO Rich Battista said, "I am pleased with our Q2 Adjusted OIBDA of $88M, which was roughly flat year-over-year. Our revenues continued to be impacted by disruption through the first half of 2017, as we said on our last call. Despite that revenue disruption, we executed in a highly disciplined way, which enabled us to beat Adjusted OIBDA expectations. The Q3 represents an important turning point for the Company as we are seeing strong momentum and sequential improvement of year-over-year trends for total advertising revenues. Today, we are reaffirming our 2017 Adjusted OIBDA outlook. On our last earnings call, we outlined aggressive actions to reduce costs, expand margins, rationalize our portfolio and extend our brands into new growth revenue streams. We've been moving with speed and, most significantly, we are announcing today, a strategic transformation program based on a thorough review of Time Inc.'s business. Through this review, we have greater confidence in our path to accelerate the optimization of costs and revenue growth drivers. We have already targeted more than $400M of run-rate cost savings, with the majority of initiatives expected to be implemented over the course of the next 18 months. We plan to use a portion of these savings to invest in our future in key growth areas including native and branded content, video, data and targeting, paid products and services, and brand extensions. With this program, we expect to realize significant cost savings and reinvest in our future, and we see a path to a minimum range of $500M-$600M of Adjusted OIBDA within the next three to four years."

  • 08

    Aug

TIME Time Inc.
$13.80

0.05 (0.36%)

06/15/17
MACQ
06/15/17
DOWNGRADE
Target $15
MACQ
Neutral
Time Inc. downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Tim Nollen downgraded Time Inc to Neutral with a $15 price target saying print circulation declines are accelerating and digital growth has not made up the difference.
05/02/17
SBSH
05/02/17
UPGRADE
Target $65
SBSH
Buy
Meredith upgraded to Buy from Neutral at Citi
Citi analyst Jason Bazinet upgraded Meredith (MDP) to Buy with the stock down 10% since Time Inc. (TIME) terminated the sale talks. The analyst believes both companies can come back to the negotiating table. He sees $3 of share downside in Meredith if it remains a standalone firm, and $19 of upside in a deal with Time. Bazinet expects Meredith to offer $18 per share for Time, not $20. A deal at that price could push Meredith's shares to $77, the analyst tells investors in a research note. He raised his price target for Meredith to $65 from $58.
04/28/17
WELS
04/28/17
DOWNGRADE
WELS
Market Perform
Time Inc. downgraded to Market Perform from Outperform at Wells Fargo
03/20/17
SPHN
03/20/17
UPGRADE
SPHN
Equal Weight
Time Inc. upgraded to Equal Weight from Underweight at Stephens

TODAY'S FREE FLY STORIES

PDD

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QCOM

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Apple

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NTRI

Nutrisystem

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$NSD

NASDAQ Market Internals

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BLD

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$NYE

NYSE Market Internals

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APC

Anadarko

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-2.44 (-4.69%)

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CCK

Crown Holdings

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-0.22 (-0.46%)

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NRDXF

Nordex

$0.00

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12:13
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12:10
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KO

Coca-Cola

$48.84

-0.24 (-0.49%)

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DLAKY

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$0.00

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, EADSY

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DLAKY

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AAPL

Apple

$165.25

-3.12 (-1.85%)

, QCOM

Qualcomm

$58.05

2.05 (3.66%)

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AAPL

Apple

$165.25

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QCOM

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$58.05

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GPRO

GoPro

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TVPT

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TVTY

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XPER

Xperi

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KZR

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$27.79

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T

AT&T

$29.50

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BC

Brunswick

$49.53

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  • 10

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AJG

Arthur J. Gallagher

$73.87

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12:01
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JP

Jupai Holdings

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GSC

Global Geoscience

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MPX

Marine Products

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XPER

Xperi

$18.39

5.59 (43.67%)

, SSNLF

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  • 12

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FAZ

Direxion Financial Bear 3x

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RCUS

Arcus Biosciences

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