Cablevision Systems Co. (NYSE:CVC) Given Average Recommendation of “Hold” by Brokerages

Cablevision Systems Co. (NYSE:CVC) has been given a consensus rating of “Hold” by the nineteen research firms that are covering the firm, AnalystRatings.NET reports. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $29.52.

Cablevision Systems (NYSE:CVC) traded down 0.862% during trading on Monday, hitting $31.625. The stock had a trading volume of 1,187,207 shares. The company’s 50 day moving average is $30.80 and its 200-day moving average is $28.99. Cablevision Systems has a 12 month low of $17.66 and a 12 month high of $33.28. The company has a market cap of $8.75 billion and a PE ratio of 43.863.

Cablevision Systems (NYSE:CVC) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.23 by $0.15. The business earned $1.61 billion during the quarter, compared to the consensus estimate of $1.64 billion. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, equities research analysts predict that Cablevision Systems will post $0.74 earnings per share for the current year.

Several brokerages have commented on CVC. Citigroup Inc. reissued a “sell” rating and issued a $21.00 price objective on shares of Cablevision Systems in a report on Thursday, September 10th. Credit Suisse raised Cablevision Systems from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $20.00 to $34.90 in a report on Friday, September 18th. SunTrust began coverage on Cablevision Systems in a report on Tuesday, November 10th. They issued a “neutral” rating and a $35.00 price objective on the stock. Jefferies Group raised their price objective on Cablevision Systems from $24.00 to $34.90 and gave the company a “hold” rating in a report on Thursday, September 17th. Finally, Deutsche Bank reissued a “hold” rating and issued a $34.90 price objective (up from $21.00) on shares of Cablevision Systems in a report on Thursday, September 17th.

In related news, insider Charles F. Dolan bought 1,000,000 shares of the stock in a transaction that occurred on Thursday, December 10th. The stock was purchased at an average cost of $29.68 per share, with a total value of $29,680,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marianne Dolan Weber sold 4,000 shares of the business’s stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $31.24, for a total value of $124,960.00. Following the transaction, the insider now directly owns 64,940 shares of the company’s stock, valued at $2,028,725.60. The disclosure for this sale can be found here.

A hedge fund recently bought a new stake in Cablevision Systems stock. Harvest Management acquired a new stake in Cablevision Systems Co. (NYSE:CVC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,500 shares of the company’s stock, valued at approximately $406,000.

12 Month Chart for NYSE:CVC

Cablevision Systems Corporation (NYSE:CVC) through its subsidiary CSC Holdings, LLC (CSC Holdings, and collectively with Cablevision) and their subsidiaries operates cable operations business in the United States. The Company operates in three reportable segments: Cable, consisting of its video, high-speed data, and Voice over Internet Protocol (VoIP) operations; Lightpath, which provides Ethernet-based data, Internet, voice and video transport and managed services to the business market in the New York metropolitan area, and Other, consisting principally of the operations of Newsday, which includes the Newsday daily newspaper, amNew York, Star Community Publishing Group, and online Websites, such as the News 12 Networks, which provide regional news programming services, Cablevision Media Sales Corporation (Cablevision Media Sales), a cable television advertising company, and certain other businesses and unallocated corporate costs.

 

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