Needham & Co. Maintains “Buy” on Time Warner Cable Ahead of Earnings (TWC)

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

The firm maintained its “Buy” rating on TWC as well as its $95 price target, which suggests a 15% upside to the stock’s Tuesday closing price of $81.31.

Needham analyst Laura Martin commented, “We are maintaining our 1Q12 financial estimates. We continue to estimate 1Q12 revenue of $5.029B, up 4% y/y, OIBDA of $1.816B, up 5% y/y and Operating EPS of $1.22, up 21% y/y. Importantly, our numbers exclude TWC’s recent acquisition of Insight Communications, which closed on 2/29/12. We expect to incorporate this acquisition after receiving updated pro forma information on the 1Q12 earnings call. FY12. For FY12, we are maintaining our revenue estimate of $20.44B, and our EPS estimate of $5.49, no change from our previous estimates.”

Time Warner Cable is slated to deliver its first quarter earnings report on Thursday, April 26, 2012. Its shares were unchanged in premarket trading Wednesday.

The Bottom Line
We have been recommending shares of Time Warner Cable (TWC) since Jan.26, when the stock was trading at $69.11. The company has a 2.75% dividend yield, based on last night’s closing stock price of $81.31.

Time Warner Cable Inc (TWC) is a “Recommended” dividend stock, holding a DARS™ Rating of 3.5 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.

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