Short Interest in Cablevision Systems Grows By 10.5% (CVC)
Cablevision Systems (NYSE:CVC) saw a significant growth in short interest in the month of June. As of June 13th, there was short interest totalling 54,819,735 shares, a growth of 10.5% from the May 30th total of 49,618,833 shares, AnalystRatingsNetwork reports. Based on an average daily volume of 2,621,536 shares, the short-interest ratio is presently 20.9 days. Approximately 26.5% of the shares of the company are sold short.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cablevision Systems in a research note on Wednesday, June 18th. They now have a $18.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Cablevision Systems from $17.00 to $19.00 in a research note on Monday, June 16th. They now have a “hold” rating on the stock. Finally, analysts at Telsey Advisory Group raised their price target on shares of Cablevision Systems from $23.00 to $25.00 in a research note on Friday, May 9th. They now have a “not rated” rating on the stock. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. Cablevision Systems currently has a consensus rating of “Hold” and an average price target of $18.36.
Shares of Cablevision Systems (NYSE:CVC) opened at 18.29 on Monday. Cablevision Systems has a 52-week low of $14.65 and a 52-week high of $20.16. The stock has a 50-day moving average of $17.43 and a 200-day moving average of $16.98. The company has a market cap of $4.949 billion and a P/E ratio of 8.36.
Cablevision Systems (NYSE:CVC) last posted its quarterly earnings results 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. Analysts expect that Cablevision Systems will post $0.81 EPS for the current fiscal year.
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.
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