Equities research analysts at ISI Group decreased their price target on shares of Cablevision (NYSE: CVC)
The analysts wrote, ?We still think Cablevision shares will find it difficult to work materially in an environment where there is still flat/negative AOCF growth (excluding one-time charges) and high debt leverage. However, we do think organic growth should improve as the year progresses. We see 2013 as a repair year broadly, with FCF rebounding, although not back to 2011 levels. Capital returns will also be lower this year, we believe.? CVC has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of Cablevision from $17.00 to $16.00 in a research note to investors on Wednesday, March 6th. They now have an ?in-line? rating on the stock. Separately, analysts at Pivotal Research cut their price target on shares of Cablevision from $14.00 to $12.00 in a research note to investors on Wednesday, March 6th. They now have a ?hold? rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Cablevision from $17.00 to $15.00 in a research note to investors on Monday, March 4th. They now have a ?hold? rating on the stock. Six analysts have rated the stock with a buy rating, one has given an overweight rating, eleven have assigned a hold rating, and three have issued a sell rating to the stock. The company presently has an average rating of ?hold? and an average target price of $15.43.
Shares of Cablevision traded up 1.50% during mid-day trading on Monday, hitting $14.17. Cablevision has a 52 week low of $10.76 and a 52 week high of $18.86. The stock?s 50-day moving average is currently $14.77. The company has a market cap of $3.752 billion and a P/E ratio of 16.06.
Cablevision last released its earnings data on Thursday, February 28th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.09 by $0.41. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company?s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that Cablevision will post $0.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, April 3rd. Shareholders of record on Friday, March 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, March 13th.
Cablevision Systems Corporation (Cablevision), through wholly owned subsidiary CSC Holdings, LLC (CSC Holdings, and collectively with Cablevision) and their subsidiaries, owns and operates cable television systems and owns companies, which provides regional news, other programming and advertising sales services for the cable television industry, provide telephone service, operate motion picture theatres and operate a newspaper publishing business.