Needham & Company Maintains a 'Hold' on Time Warner (TWX); 3Q11 Earnings Preview
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Price: $2.23 --0%
Rating Summary:
14 Buy, 24 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 24 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Time Warner (NYSE: TWX).
Needham analyst says, "We maintain our FY11 and FY12 estimates. For FY11, we estimate revenue of $28.92B, up 8% y/y, and Operating EPS of $2.77, up 15% y/y. For FY12, we estimate revenue of $29.646B, up 3% y/y, and Operating EPS of $3.12, up 13% y/y. TWX generates about 25% of its revenue from advertising. Robust political ad spending in 3Q10 won’t be repeated in 3Q11, thereby making the reported advertising results difficult. On a same-store basis, excluding political ad spending, we believe that the current ad market remains strong, up mid-high single digits with no evidence of softening over the past 3 months."
For more ratings news on Time Warner click here and for the rating history of Time Warner click here.
Shares of Time Warner closed at $32.13 yesterday.
Needham analyst says, "We maintain our FY11 and FY12 estimates. For FY11, we estimate revenue of $28.92B, up 8% y/y, and Operating EPS of $2.77, up 15% y/y. For FY12, we estimate revenue of $29.646B, up 3% y/y, and Operating EPS of $3.12, up 13% y/y. TWX generates about 25% of its revenue from advertising. Robust political ad spending in 3Q10 won’t be repeated in 3Q11, thereby making the reported advertising results difficult. On a same-store basis, excluding political ad spending, we believe that the current ad market remains strong, up mid-high single digits with no evidence of softening over the past 3 months."
For more ratings news on Time Warner click here and for the rating history of Time Warner click here.
Shares of Time Warner closed at $32.13 yesterday.
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