Cost Pressures, Hurricane to Hit Cablevision (CVC) Earnings
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Price: $15.43 +1.51%
Rating Summary:
7 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CVC Now!
Nomura Securities maintained a Buy rating on Cablevision (NYSE: CVC) and cut its price target to $19.00 (from $21.00).
Commenting on Cablevision's disappointing Q3, analyst Mike McCormack pointed out that revenue and subscriber results met expectations, but cost pressures worsened.
"We believe that the company's current investment cycle is nearing an end, aiding future margins," said McCormack.
"Nonetheless, lack of clarity on the magnitude and timing of what we view as discrete projects continues to result in disappointing earnings reports," he said.
Analysts are also bracing for a loss of revenue resulting from Hurricane Sandy.
Hurricane Sandy is expected to have a larger impact than the $16 million hit caused by Hurricane Irene in 2011, noted a report, but so far Cablevision has not give estimates.
For an analyst ratings summary and ratings history on Cablevision click here. For more ratings news on Cablevision click here.
Shares of Cablevision closed at $15.49 yesterday, with a 52 week range of $10.76-$18.86.
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Commenting on Cablevision's disappointing Q3, analyst Mike McCormack pointed out that revenue and subscriber results met expectations, but cost pressures worsened.
"We believe that the company's current investment cycle is nearing an end, aiding future margins," said McCormack.
"Nonetheless, lack of clarity on the magnitude and timing of what we view as discrete projects continues to result in disappointing earnings reports," he said.
Analysts are also bracing for a loss of revenue resulting from Hurricane Sandy.
Hurricane Sandy is expected to have a larger impact than the $16 million hit caused by Hurricane Irene in 2011, noted a report, but so far Cablevision has not give estimates.
For an analyst ratings summary and ratings history on Cablevision click here. For more ratings news on Cablevision click here.
Shares of Cablevision closed at $15.49 yesterday, with a 52 week range of $10.76-$18.86.
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