Cablevision Systems Receives “B+” Credit Rating (CVC)
Cablevision Systems (NYSE:CVC) has received a “B+” credit rating from analysts at Morningstar. The agency’s “B+” rating suggests that the company is a high default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
A number of other firms have also recently commented on CVC. Analysts at Evercore Partners raised their price target on shares of Cablevision Systems from $7.00 to $9.00 in a research note on Friday, August 8th. Separately, analysts at Citigroup Inc. upgraded shares of Cablevision Systems from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 6th. They now have a $18.00 price target on the stock, up previously from $17.00. Finally, analysts at Telsey Advisory Group reiterated a “” rating on shares of Cablevision Systems in a research note on Tuesday, August 5th. They now have a $25.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Cablevision Systems currently has an average rating of “Hold” and a consensus price target of $19.00.
Shares of Cablevision Systems (NYSE:CVC) opened at 18.66 on Thursday. Cablevision Systems has a 52-week low of $14.65 and a 52-week high of $20.42. The stock’s 50-day moving average is $18.56 and its 200-day moving average is $17.5. The company has a market cap of $5.059 billion and a price-to-earnings ratio of 9.37.
Cablevision Systems (NYSE:CVC) last released its earnings data on Tuesday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts expect that Cablevision Systems will post $1.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders 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 3.22%. The ex-dividend date of this dividend is Wednesday, August 13th.
In other Cablevision Systems news, EVP David Ellen sold 60,695 shares of Cablevision Systems stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $18.23, for a total transaction of $1,106,469.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
Receive News & Ratings for Cablevision Systems Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cablevision Systems Co and related companies with Analyst Ratings Network's FREE daily email newsletter.