Shares of Time Warner Inc. ( TWX – Analyst Report ) recorded a new 52-week high of $60.30 yesterday, before closing at $60.19, rising approximately 21.6% year to date. Based on the current price, this media and entertainment company is 2.2% above the Zacks Consensus average analyst price target of $58.90.
Moreover, it currently trades at a forward P/E of 16.38x, at par with the peer group average. Additionally, the company’s long-term estimated EPS growth rate is 10.6%, which is relatively healthy.
Time Warner has been expanding its digital presence, enabling consumers to enjoy its content through numerous platforms and devices. Alongside, it has entered into several content distribution deals with Time Warner Cable Inc. ( TWC – Analyst Report ) and Netflix, Inc. ( NFLX – Analyst Report ) , which strengthen its multichannel subscription model by adding more platforms to deliver its content.
— Zacks Investment Research