[Reuters] – A majority of the five-member U.S. Federal Communications Commission has voted to approve Charter Communications Inc’s acquisitions of Time Warner Cable Inc and Bright House Networks, two sources briefed on the matter said on Thursday. The deals, which would create the second-largest U.S. broadband provider and third-largest video provider, won the backing of FCC Commissioners Jessica Rosenworcel and Michael O’Rielly this week, the sources said on condition of anonymity. FCC Chairman Tom Wheeler had already voted to approve them. Read more on this. Time Warner Cable Inc. (TWC) , with a current market cap of $60.50B, began trading this morning at $212.33. Today’s price range has been between $211.96 and $213.91 per share and has traded between $152.81 and $216.10 over the past year. TWC shares are currently priced at 28.35x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.78x earnings multiple. And for passive income investors, the company pays shareholders $3.00 per share annually in dividends, yielding 1.41%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.83 per share, which would be $0.29 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $7.49 which would be a $0.87 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.30 Billion. If reported, that would be a 6.24% increase over the year-ago quarter. In terms of ratings, Sun Trust Rbsn Humphrey Initiated TWC at Neutral (Nov 11, 2015). Previously, Buckingham Research downgraded TWC from Buy to Neutral. The average price target for TWC shares by the analysts covering it is $215.00, which is 1.26% above where the stock opened. See more in (NYSE:TWC) Similar Articles: Stock Update (NYSE:TWC): U.S. approves Charter’s Time Warner Cable buy with conditions Market Update (NYSE:TWC): Time Warner Cable-Charter Deal Still on Track Company Update (NYSE:TWC): Time Warner Cable-Charter Deal Still on Track