Time Warner Cable Stock Rating Reaffirmed by Zacks (TWC)
Time Warner Cable (NYSE:TWC)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Friday. They currently have a $150.00 target price on the stock. Zacks‘s price target suggests a potential upside of 5.10% from the company’s current price.
Zacks’ analyst wrote, “Time Warner Cable posted first-quarter 2014 results, where its bottom line outpaced the Zacks Consensus Estimate while the top line missed the same. A new WiFi service deal with Boingo coupled with the launch of innovative services have not only improved ARPU but also significantly narrowed its residential video subscriber loss. Moreover, increased dividend payments and implementation of growth strategies may act as tailwinds for the company moving forward. However, stiff competition from cable and telecom players coupled with mounting programming expenses will continue to act as headwinds for the company. We, thus, maintain our Neutral rating on Time Warner Cable. Meanwhile, the stock price of Time Warner Cable soared nearly 49% in the last one year and is presently trading at the high end of the 52-week price range.”
In other Time Warner Cable news, Director Glenn Britt sold 30,000 shares of the stock on the open market in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $142.67, for a total value of $4,280,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Time Warner Cable (NYSE:TWC) traded down 0.15% on Friday, hitting $142.50. 323,522 shares of the company’s stock traded hands. Time Warner Cable has a one year low of $95.79 and a one year high of $147.28. The stock’s 50-day moving average is $140.6 and its 200-day moving average is $137.2. The company has a market cap of $39.702 billion and a price-to-earnings ratio of 20.18.
Time Warner Cable (NYSE:TWC) last released its 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 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 2.10%. The ex-dividend date is Wednesday, May 28th.
TWC has been the subject of a number of other recent research reports. 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 investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $147.53.
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.
To view Zacks’ full report, visit Zacks’ official website.
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