Cablevision Systems Corporation (CVC) Releases Earnings Results, Beats Expectations By $0.14 EPS

Cablevision Systems Corporation (CVC) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.20. The company posted revenue of $1640.80 million in the period, compared to analysts expectations of $1641.89 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Cablevision Systems Corporation. Company shares were Reiterated by Telsey Advisory Group on Feb 25, 2016 to “Market Perform”, Firm has raised the Price Target to $ 34 from a previous price target of $23 .

Cablevision Systems Corporation opened for trading at $34.35 and hit $34.505 on the upside on Wednesday, eventually ending the session at $34.45, with a gain of 1.83% or 0.62 points. The heightened volatility saw the trading volume jump to 66,93,467 shares. Company has a market cap of $9,519 M.

In a different news, on May 26, 2015, Victoria Mink (SVP,Controller & PrinpAcctgOff) sold 5,000 shares at $24.97 per share price. According to the SEC, on May 21, 2015, David Ellen (EVP General Counsel &Secretary) sold 40,452 shares at $20.86 per share price. On Mar 16, 2015, Vincent Tese (director) sold 8,000 shares at $18.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Cablevision Systems Corporation (Cablevision) through its subsidiary CSC Holdings LLC (CSC Holdings and collectively with Cablevision) and their subsidiaries operates cable operations business in the United States. The Company operates in three reportable segments: Cable consisting of its video high-speed data and Voice over Internet Protocol (VoIP) operations; Lightpath which provides Ethernet-based data Internet voice and video transport and managed services to the business market in the New York metropolitan area and Other consisting principally of the operations of Newsday which includes the Newsday daily newspaper amNew York Star Community Publishing Group and online Websites such as the News 12 Networks which provide regional news programming services Cablevision Media Sales Corporation (Cablevision Media Sales) a cable television advertising company and certain other businesses and unallocated corporate costs.

Cablevision Systems Corporation

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