Cablevision Systems Price Target Raised to $9.00 at Evercore Partners (CVC)
Research analysts at Evercore Partners increased their price target on shares of Cablevision Systems (NYSE:CVC) from $7.00 to $9.00 in a report released on Friday. Evercore Partners’ target price indicates a potential downside of 49.97% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of Cablevision Systems from a “sell” rating to a “neutral” rating in a research note on Wednesday. They now have a $18.00 price target on the stock, up previously from $17.00. Separately, analysts at Telsey Advisory Group reiterated a “” rating on shares of Cablevision Systems in a research note on Tuesday. They now have a $25.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.47.
Cablevision Systems (NYSE:CVC) opened at 17.99 on Friday. Cablevision Systems has a one year low of $14.65 and a one year high of $20.42. The stock has a 50-day moving average of $18.33 and a 200-day moving average of $17.26. The company has a market cap of $4.878 billion and a P/E ratio of 9.20.
Cablevision Systems (NYSE:CVC) last announced its earnings results on Tuesday, August 5th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.17. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Cablevision Systems will post $0.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Shareholders of record on Friday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, August 13th.
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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