Bloomberg News

Cablevision Declines After Cash Flow Misses Analysts’ Estimates

May 03, 2012

Cablevision Systems Corp. (CVC:US), the fifth- largest U.S. cable provider by subscribers, declined the most in two months after its cash flow decreased more than some analysts estimated.

Cablevision’s adjusted operating cash flow fell 7.6 percent to $513.5 million, a larger drop than analysts such as David Joyce at Miller Tabak & Co. projected. Joyce cut his rating for Cablevision to neutral from a buy recommendation following the company’s quarterly earnings report.

The shares declined as much as 7.4 percent to $13.2 at 9:47 a.m. in New York, the biggest one-day drop since Feb. 28.

To contact the reporter on this story: Alex Sherman in New York at asherman6@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net


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Companies Mentioned

  • CVC
    (Cablevision Systems Corp)
    • $19.25 USD
    • 0.46
    • 2.36%
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