Cablevision Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Cablevision (NYSE:CVC) will unveil its latest earnings on Thursday, November 1, 2012. Cablevision Systems is a telecommunications, media, and entertainment company with a portfolio of operations in the United States.

Cablevision Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 16 cents per share, a decline of 5.9% 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 19 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 17 cents during the last month. Analysts are projecting profit to rise by 21.4% compared to last year’s 81 cents.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the second quarter, the company reported profit of 17 cents per share versus a mean estimate of net income of 19 cents per share. In the first quarter, the company beat estimates by one cent.

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A Look Back: In the second quarter, profit fell 27.7% to $63.5 million (24 cents a share) from $87.8 million (31 cents a share) the year earlier, missing analyst expectations. Revenue rose 0.5% to $1.7 billion from $1.69 billion.

Stock Price Performance: Between August 30, 2012 and October 26, 2012, the stock price had risen $3.18 (21.6%), from $14.71 to $17.89. The stock price saw one of its best stretches over the last year between September 4, 2012 and September 14, 2012, when shares rose for nine straight days, increasing 14.7% (+$2.17) over that span. It saw one of its worst periods between May 1, 2012 and May 10, 2012 when shares fell for eight straight days, dropping 16.8% (-$2.53) over that span.

Analyst Ratings: There are mostly holds on the stock with seven of 13 analysts surveyed giving that rating.

Key Stats:

On the top line, the company is looking to build on last quarter’s revenue increase, which snapped a string of revenue drops. Revenue fell 7.8% in the third quarter of the last fiscal year, 9.5% in the fourth quarter of the last fiscal year and 13.7% in the first quarter before climbing in the second quarter.

The company is trying to stem some negative momentum heading into this earnings announcement. Profit has dropped by a year-over-year average of 46.1% over the past four quarters.

Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 0.81 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, a ratio less than one could indicate a company may have difficulty meeting current obligations.

Wall St. Revenue Expectations: On average, analysts predict $1.69 billion in revenue this quarter, a rise of 1.2% from the year-ago quarter. Analysts are forecasting total revenue of $6.76 billion for the year, a rise of 0.9% from last year’s revenue of $6.7 billion.

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

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