Time Warner Cable posted earnings of $1.86 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%.
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Time Warner Cable Inc’s shareholders approved the company’s $56 billion takeover by Charter Communications Inc, according to preliminary votes at a special shareholder meeting.
During the 15-minute TWC meeting, which was webcast, chairman and CEO Rob Marcus evoked the Yogi Berra quote, saying: “It does feel like deja vu all over again”. The shares have received a hold rating based on the suggestion from 11 analysts in latest recommendations. Time Warner has a 52-week low of $66.82 and a 52-week high of $91.34. However, if the road gets shaky, the stock may fall short to $85 per share. Following the transaction, the chief financial officer now directly owns 15,696 shares in the company, valued at $2,978,786.88. The firm has a 50-day moving average price of $74.48 and a 200 day moving average price of $83.07. Charter will pay upwards of $55 billion in cash and stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. The daily volume was measured at 1,875,142 shares. This represents a $3.00 annualized dividend and a dividend yield of 1.58%. Brokerage firm Barclays maintains its rating on Time Warner Cable Inc (NYSE:TWC).
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The questions show the FCC is concerned about whether cable companies that provide access to the Internet may squelch streaming video that competes with their traditional channel lineup. Credit Suisse assumed coverage on shares of Time Warner in a report on Wednesday, June 3rd. Time Warner Cable has a consensus rating of “Hold” and a consensus price target of $180.49. In its data request, the FCC asked Charter to explain its claim that it would be willing to use its broadband business to promote online video, “given the potential impact on the company’s video business”. And TWC is now “operationally stronger” than it was when the Comcast deal was approve, he added.
