Cablevision Systems Beats Expectations but Takes a Step Back Anyway
Cablevision Systems (NYS: CVC) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Cablevision Systems met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Cablevision Systems recorded revenue of $1.66 billion. The 18 analysts polled by S&P Capital IQ foresaw revenue of $1.67 billion on the same basis. GAAP reported sales were 0.2% higher than the prior-year quarter's $1.66 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.21. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.19 per share. GAAP EPS of $0.21 for Q1 were 42% lower than the prior-year quarter's $0.36 per share. (The prior-year quarter included $0.12 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 52.7%, 270 basis points worse than the prior-year quarter. Operating margin was 15.1%, 290 basis points worse than the prior-year quarter. Net margin was 3.5%, 280 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.69 billion. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $6.75 billion. The average EPS estimate is $0.85.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 118 members out of 177 rating the stock outperform, and 59 members rating it underperform. Among 60 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give Cablevision Systems a green thumbs-up, and 17 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cablevision Systems is hold, with an average price target of $16.66.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Cablevision Systems. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Cablevision Systems to My Watchlist.
At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.