Time Warner Cable Director Unloads $9,467,005 in Stock (TWC)
Time Warner Cable (NYSE:TWC) Director Glenn Britt unloaded 70,100 shares of the stock on the open market in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $135.05, for a total transaction of $9,467,005.00. Following the completion of the transaction, the director now directly owns 158,947 shares of the company’s stock, valued at approximately $21,465,792. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on TWC shares. Analysts at Nomura initiated coverage on shares of Time Warner Cable in a research note to investors on Wednesday. They set a “neutral” rating on the stock. Separately, analysts at Wunderlich raised their price target on shares of Time Warner Cable from $124.00 to $132.50 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, 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. Thirteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Time Warner Cable presently has an average rating of “Buy” and a consensus target price of $127.38.
Time Warner Cable (NYSE:TWC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.69 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.41 earnings per share. Time Warner Cable’s revenue was up 2.9% compared to the same quarter last year.
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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