Earnings Estimates Moving Higher for Cablevision Systems (CVC): Time to Buy?

Zacks

Cablevision Systems Corporation (CVC) is a cable television operating company in the U.S. that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CVC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Cablevision Systems could be a solid choice for investors.

Current Quarter Estimates for CVC

In the past 30 days, 2 estimates have gone higher for Cablevision Systems while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 14 cents a share 30 days ago, to 15 today, a move of 7.1%.

Current Year Estimates for CVC

Meanwhile, Cablevision Systems’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 72 cents per share 30 days ago to 87 cents per share today, an increase of 20.8%.

Bottom Line

The stock has also started to move higher lately, adding 6.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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