NEW YORK ( TheStreet) -- Time Warner Cable ( TWC) hit a 52-week high on Wednesday ahead of its fourth-quarter earnings report, which is scheduled to be released on Thursday before the market opens.
Shares spiked to $68.92 in morning trading and are currently trading up about 0.4% to just below $68.20. The cable company is set to release its fourth-quarter and full-year earnings report Thursday, Jan. 27. Analysts polled by Thomson Reuters estimate earnings will come in at $1 a share. According to data compiled by Bloomberg, 27 research analysts give the company a buy rating, while 7 rate the stock as neutral. There are currently no "sell" ratings on the stock. Analyst Matthew Harrigan with Wunderlich Securities maintains his buy rating and $75 price target on the stock. Harrigan expects a 4.5% growth in sales to $4.74 billion to drive Time Warner Cable's operating income before depreciation and amortization up 4.9% to $1.79 billion, he said in his Jan. 26 research note. While he expects the company to lose 158,000 subscribers due to a recent cord cutting and over-the-top video trend, he projects that the company will add 29,000 total new subscribers due to expected gains in its high speed Internet and voice services. In the third quarter of 2010, Time Warner Cable beat earnings estimates with a profit of $360 million, or $1 a share. Analysts had expected a profit of 89 cents a share.