JPMorgan Chase & Co. Reiterates Hold Rating for Cablevision Systems Corp. (CVC)
Cablevision Systems Corp. (NYSE:CVC)‘s stock had its “hold” rating restated by research analysts at JPMorgan Chase & Co. in a report released on Friday, American Banking News reports. They currently have a $17.00 price target on the stock, up from their previous price target of $15.00. JPMorgan Chase & Co.’s price objective points to a potential upside of 1.07% from the company’s current price.
Shares of Cablevision Systems Corp. (NYSE:CVC) opened at 16.87 on Friday. Cablevision Systems Corp. has a 52-week low of $13.88 and a 52-week high of $20.16. The stock has a 50-day moving average of $16. and a 200-day moving average of $16.52. The company has a market cap of $4.515 billion and a P/E ratio of 7.86.
Cablevision Systems Corp. (NYSE:CVC) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.30. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Cablevision Systems Corp. will post $0.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Wednesday, May 21st.
A number of other firms have also recently commented on CVC. Analysts at Northland Securities raised their price target on shares of Cablevision Systems Corp. to $20.00 in a research note on Tuesday, March 4th. They now have a “market perform” rating on the stock. Analysts at National Alliance Securities raised their price target on shares of Cablevision Systems Corp. from $22.03 to $25.05 in a research note on Thursday, February 27th. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.28.
Cablevision Systems Corporation (NYSE:CVC), through its wholly owned subsidiary CSC Holdings, LLC (CSC Holdings, and collectively with Cablevision) and their subsidiaries operates in the United States based on the number of video customers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.