Insider Selling: Time Warner Cable CEO Sells 16,000 Shares of Stock (TWC)
Time Warner Cable (NYSE:TWC) CEO Robert D. Marcus sold 16,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $137.99, for a total value of $2,207,840.00. Following the sale, the chief executive officer now directly owns 61,281 shares of the company’s stock, valued at approximately $8,456,165. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Time Warner Cable from $142.00 to $155.00 in a research note on Tuesday, May 6th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Time Warner Cable in a research note on Friday, April 25th. They now have a $150.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Time Warner Cable has an average rating of “Buy” and an average target price of $147.37.
Shares of Time Warner Cable (NYSE:TWC) traded up 1.34% on Wednesday, hitting $139.70. 1,226,752 shares of the company’s stock traded hands. Time Warner Cable has a 1-year low of $92.87 and a 1-year high of $147.28. The stock’s 50-day moving average is $138.3 and its 200-day moving average is $134.. The company has a market cap of $38.922 billion and a price-to-earnings ratio of 19.49.
Time Warner Cable (NYSE:TWC) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.02. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.64 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 2.0% on a year-over-year basis. Analysts expect that Time Warner Cable will post $7.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, May 28th.
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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