Insider Selling: Time Warner Cable EVP Unloads 8,000 Shares of Stock (TWC)
Time Warner Cable (NYSE:TWC) EVP Marc Lawrence-Apfelbaum unloaded 8,000 shares of the stock on the open market in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $138.07, for a total value of $1,104,560.00. Following the completion of the sale, the executive vice president now directly owns 4,985 shares of the company’s stock, valued at approximately $688,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Time Warner Cable (NYSE:TWC) traded up 1.34% on Wednesday, hitting $139.70. The stock had a trading volume of 1,226,752 shares. Time Warner Cable has a 52-week low of $92.87 and a 52-week high of $147.28. The stock has a 50-day moving average of $138.3 and a 200-day moving average of $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 for the quarter, beating the analysts’ 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 last year, the company posted $1.41 earnings per share. Time Warner Cable’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Time Warner Cable will post $7.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, May 28th.
A number of analysts have recently weighed in on TWC shares. 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’s stock. Time Warner Cable currently has a consensus rating of “Buy” and an average target price of $147.37.
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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