Brean Murray Carret & Co. Cuts Estimates on Cablevision (CVC); In Complete Meltdown Mode
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Price: $34.87 --0%
Rating Summary:
7 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Brean Murray Carret & Co. maintains a 'Hold' on Cablevision (NYSE: CVC) price target range $13-14.
Analyst, Todd Mitchell, said, "Cablevision is in a complete meltdown. In nine months it has gone from industry leader to basket case. Our fear is that this is just a natural arch for the MSO. Cablevision was early to the bundle, has leading levels of service penetration, and been aggressive with leverage and capital returns. Now it looks to be hitting a ceiling in market share and service penetration, has a less compelling offering than its primary competitor, is seeing operating margins pressured by higher programming costs, and needs to accelerate investment to maintain its competitive position."
Mitchell cuts FY12 EPS estimate from $0.95 to $0.80 and FY13 from $1.05 to $0.86.
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 $13.54 yesterday.
Analyst, Todd Mitchell, said, "Cablevision is in a complete meltdown. In nine months it has gone from industry leader to basket case. Our fear is that this is just a natural arch for the MSO. Cablevision was early to the bundle, has leading levels of service penetration, and been aggressive with leverage and capital returns. Now it looks to be hitting a ceiling in market share and service penetration, has a less compelling offering than its primary competitor, is seeing operating margins pressured by higher programming costs, and needs to accelerate investment to maintain its competitive position."
Mitchell cuts FY12 EPS estimate from $0.95 to $0.80 and FY13 from $1.05 to $0.86.
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 $13.54 yesterday.
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