Cablevision Systems Corp. (NYSE: CVC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Tuesday, Analyst Ratings Network.com reports. They currently have a $18.00 target price on the stock. Zacks‘ price target points to a potential downside of 4.91% from the stock’s previous close.
Shares of Cablevision Systems Corp. (NYSE: CVC) traded down 1.32% during mid-day trading on Tuesday, hitting $18.68. Cablevision Systems Corp. has a one year low of $12.97 and a one year high of $19.38. The stock’s 50-day moving average is currently $16.15. The company has a market cap of $4.989 billion and a P/E ratio of 31.50.
Cablevision Systems Corp. (NYSE: CVC) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.06 by $0.12. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that Cablevision Systems Corp. will post $0.17 EPS for the current fiscal year.
CVC has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus upgraded shares of Cablevision Systems Corp. from a “sell” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Albert Fried & Company raised their price target on shares of Cablevision Systems Corp. from $20.00 to $23.00 in a research note to investors on Monday, July 8th. Finally, analysts at TheStreet downgraded shares of Cablevision Systems Corp. from a “hold” rating to a “sell” rating in a research note to investors on Monday, May 13th.
Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Cablevision Systems Corp. currently has an average rating of “Hold” and a consensus price target of $16.18.
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 Zacks’ full report, visit www.zacks.com