Nomura Securities Adjusts Estimates on Time Warner (TWX) Post Q4 Review
TWX Hot Sheet
Rating Summary:11 Buy, 4 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Nomura Securities maintains a 'Neutral' on Time Warner (NYSE: TWX) price target of $39.00.
Analyst, Michael Nathanson, said, "We are raising 2012E EPS by $0.04 to $3.16 after flowing through some of the $0.07 beat as well as incorporating incremental data points on advertising trends and timing of expenses. This represents EPS growth of 9% Y/Y, which is below the company’s new 2012 guidance of “low double digit growth”. We remain cautious on Film in 2012 and importantly do not incorporate any incremental SVOD digital checks in our forecasts. We project share buybacks will decelerate by almost 50% to $2.5 billion in 2012. We are reducing our 2012 affiliate fee growth at Networks to 5.5% growth while maintaining our 5.5% advertising growth estimate. Our 2012/13 EPS estimates go to $3.16/$3.57 from $3.12/$3.53."
For an analyst ratings summary and ratings history on Time Warner click here. For more ratings news on Time Warner click here.
Shares of Time Warner closed at $38.11 yesterday, with a 52 week range of $27.62-$39.24.
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Analyst, Michael Nathanson, said, "We are raising 2012E EPS by $0.04 to $3.16 after flowing through some of the $0.07 beat as well as incorporating incremental data points on advertising trends and timing of expenses. This represents EPS growth of 9% Y/Y, which is below the company’s new 2012 guidance of “low double digit growth”. We remain cautious on Film in 2012 and importantly do not incorporate any incremental SVOD digital checks in our forecasts. We project share buybacks will decelerate by almost 50% to $2.5 billion in 2012. We are reducing our 2012 affiliate fee growth at Networks to 5.5% growth while maintaining our 5.5% advertising growth estimate. Our 2012/13 EPS estimates go to $3.16/$3.57 from $3.12/$3.53."
For an analyst ratings summary and ratings history on Time Warner click here. For more ratings news on Time Warner click here.
Shares of Time Warner closed at $38.11 yesterday, with a 52 week range of $27.62-$39.24.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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