Insider Selling: Glenn Britt Unloads 129,600 Shares of Time Warner Cable Stock (TWC)
Time Warner Cable (NYSE:TWC) Director Glenn Britt sold 129,600 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $134.05, for a total value of $17,372,880.00. Following the completion of the sale, the director now directly owns 158,947 shares in the company, valued at approximately $21,306,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Time Warner Cable (NYSE:TWC) traded up 0.65% on Tuesday, hitting $134.90. 1,724,190 shares of the company’s stock traded hands. Time Warner Cable has a 1-year low of $84.57 and a 1-year high of $139.85. The stock has a 50-day moving average of $132.0 and a 200-day moving average of $118.0. The company has a market cap of $38.027 billion and a price-to-earnings ratio of 20.65.
Time Warner Cable (NYSE:TWC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.05. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Time Warner Cable will post $6.54 EPS for the current fiscal year.
A number of analysts have recently weighed in on TWC shares. Analysts at Buckingham Research initiated coverage on shares of Time Warner Cable in a research note to investors on Thursday, December 19th. They set a “neutral” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Time Warner Cable in a research note to investors on Thursday, December 19th. They set a “hold” rating and a $145.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Time Warner Cable in a research note to investors on Tuesday, December 17th. They now have a $139.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $126.86.
Time Warner Cable Inc (NYSE:TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas.
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