Needham & Co. Stays Bullish on Time Warner Cable Ahead of Earnings (TWC)

By
A A A
Share |

Cable TV and Internet provider Time Warner Cable Inc. ( TWC ) on Wednesday caught some continued bullish commentary from analysts at Needham & Co.

The firm reiterated its "Buy" rating and $95 price target, which suggests a 16% upside to the stock's Tuesday closing price of $81.85.

A Needham analyst commented, "We are revising our estimates to account for TWC's acquisition of Insight Communications, which closed on 2/29/12, as follows: We raise our 2Q12 revenue to $5.382B (up 9% y/y and 2% higher than our previous estimates) and we maintain our Operating EPS at $1.38 (up 17% y/y)…For FY12, we raise our revenue estimate to $21.36B (up 9% y/y and 2% higher than our previous estimates), and we raise our Operating EPS by 0.7% to $5.64 (up 21% y/y and 1% higher than our previous estimates)…For FY13, we raise our revenue estimate to $22.182B (up 4% y/y and 1% higher than our previous estimates) and we maintain our Operating EPS at $7.10 (up 26% y/y)."

Time Warner Cable shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of Time Warner Cable ( TWC ) have a 2.74% dividend yield, based on last night's closing stock price of $81.85. The stock has technical support in the $74-$75 price area. If the shares can firm up, we see overhead resistance around the $85-$86 price levels.

Time Warner Cable Inc. ( TWC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: TWC

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

The Danger of Small ETFs
The Danger of Small ETFs            

Stocks

Referenced

78%

Most Active by Volume

22,591,948
  • $16.29 ▼ 0.24%
20,308,084
  • $74.72 ▼ 1.63%
16,400,188
  • $101.8799 ▲ 0.98%
15,363,029
  • $3.595 ▲ 0.98%
14,640,817
  • $47.9299 ▼ 0.50%
12,401,418
  • $38.02 ▲ 0.61%
12,250,711
  • $18.75 ▲ 2.85%
10,654,195
  • $11.08 ▲ 2.59%
As of 8/27/2014, 11:52 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com