[Reuters] – The deal is valued at $60 million, according to the CNN Money website. Time Warner Inc’s (NYS:TWX) CNN bought Zite, a news reader application that aggregates content for tablets like Apple Inc’s (AAPL.O) iPad in 2011, for around $20 million, according to reports at the time.
Read more on this.
Time Warner Inc. (TWX), with a current value of $61.07B, opened this morning at $67.09.
A quick look at the market, the company’s traded between $66.98 to $68.80 with the price of the stock fluctuating between $55.00 to $70.77 over the last 52 weeks.
Priced at 17.04x this year’s forecasted earnings, TWX shares are relatively expensive compared to the industry’s 6.17x forward p/e ratio.
And for dividend hunters, the company pays shareholders $1.27 per share annually in dividends, yielding 1.90%.
In a review of the consensus earnings estimate this quarter, 25 sell-side analysts are looking at $0.87 per share, which would be $0.11 better than the year-ago quarter and a $0.05 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $3.93 is a $0.16 better when compared to the previous year’s annual results.
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $6.66 Billion. If realized, that would be a 4.03% decrease over the year-ago quarter.
Recently, FBR Capital Initiated TWX at Outperform (Oct 25, 2013). Previously, Argus upgraded TWX from Hold to Buy.
The average price target for TWX shares is $74.39, which is 10.88% above where the stock opened this morning.
Time Warner Inc (NYSE:TWX), operates as a media and entertainment company in the United States and internationally. The company operates in three segments: Networks, Film and TV Entertainment and Publishing.
Tag Helper ~ Stock Code: TWX | Common Company name: Time Warner | Full Company name: Time Warner Inc (NYSE:TWX) .