Cablevision Systems Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Cablevision Systems Corporation (NYSE:CVC) will unveil its latest earnings on Thursday, May 3, 2012. Cablevision Systems is a telecommunications, media, and entertainment company with a portfolio of operations in the United States.

Cablevision Systems Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 20 cents per share, a decline of 47.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 27 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 20 cents during the last month. Analysts are projecting profit to rise by 12.6% compared to last year’s 90 cents.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of 29 cents per share versus a mean estimate of net income of 25 cents per share. In the third quarter of the last fiscal year, the company missed estimates by 15 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.67 billion in revenue this quarter, a decline of 13% from the year-ago quarter. Analysts are forecasting total revenue of $6.78 billion for the year, a rise of 1.2% from last year’s revenue of $6.7 billion.

Analyst Ratings: Analysts seem relatively indifferent about Cablevision Systems with seven of 13 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 46.8% to $60.6 million (21 cents a share) from $113.9 million (38 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 9.5% to $1.69 billion from $1.87 billion.

Key Stats:

After experiencing income drops the past two quarters, the company is hoping to use this earnings announcement to rebound. Net income dropped 64.9% in the third quarter of the last fiscal year and then again in the fourth quarter of the last fiscal year.

On the top line, the company is hoping to use this earnings announcement to snap a string of three-straight quarters of revenue declines. Revenue fell 6.3% in the second quarter of the last fiscal year and 7.8% in third quarter of the last fiscal year before falling again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between April 23, 2012 and April 27, 2012, the stock price rose 93 cents (6.8%), from $13.63 to $14.56. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 7, 2011, when shares rose for nine straight days, increasing 13.7% (+$3.22) over that span. It saw one of its worst periods between March 29, 2012 and April 10, 2012 when shares fell for eight straight days, dropping 9.4% (-$1.39) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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