Altice USA, Inc. (NYSE:ATUS) Expected to Announce Earnings of $0.51 Per Share

Wall Street brokerages forecast that Altice USA, Inc. (NYSE:ATUS) will announce earnings per share (EPS) of $0.51 for the current fiscal quarter, Zacks reports. Thirteen analysts have provided estimates for Altice USA’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.62. Altice USA reported earnings of $0.34 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The business is scheduled to report its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Altice USA will report full-year earnings of $2.03 per share for the current fiscal year, with EPS estimates ranging from $1.74 to $2.21. For the next fiscal year, analysts anticipate that the business will post earnings of $2.13 per share, with EPS estimates ranging from $1.63 to $2.69. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Altice USA.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Tuesday, July 27th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. Altice USA had a net margin of 8.00% and a negative return on equity of 129.77%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion.

A number of analysts recently weighed in on the stock. TD Securities reduced their price objective on shares of Altice USA from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, July 30th. Credit Suisse Group lowered shares of Altice USA from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $46.00 to $24.00 in a research report on Monday, September 27th. Zacks Investment Research lowered shares of Altice USA from a “hold” rating to a “sell” rating and set a $21.00 price objective on the stock. in a report on Tuesday, September 28th. Barclays lowered their target price on shares of Altice USA from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 5th. They noted that the move was a valuation call. Finally, Wells Fargo & Company lowered their target price on shares of Altice USA from $34.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, October 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Altice USA has a consensus rating of “Hold” and an average price target of $30.68.

In related news, EVP Michael Olsen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $30.97, for a total transaction of $92,910.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 9,000 shares of company stock worth $237,720 over the last quarter. 53.10% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of ATUS. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Altice USA by 65.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,864,921 shares of the company’s stock worth $575,768,000 after purchasing an additional 6,682,980 shares during the period. Zimmer Partners LP lifted its stake in shares of Altice USA by 1.3% in the 1st quarter. Zimmer Partners LP now owns 7,146,237 shares of the company’s stock worth $232,467,000 after acquiring an additional 94,000 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Altice USA by 76.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 6,726,080 shares of the company’s stock worth $218,799,000 after acquiring an additional 2,923,303 shares during the period. State Street Corp lifted its stake in shares of Altice USA by 2.6% in the 2nd quarter. State Street Corp now owns 5,141,654 shares of the company’s stock worth $175,536,000 after acquiring an additional 128,937 shares during the period. Finally, FMR LLC lifted its stake in shares of Altice USA by 1.3% in the 2nd quarter. FMR LLC now owns 4,706,103 shares of the company’s stock worth $160,667,000 after acquiring an additional 62,463 shares during the period. Institutional investors and hedge funds own 54.85% of the company’s stock.

Shares of ATUS traded down $0.07 during midday trading on Monday, hitting $17.55. 84,723 shares of the company traded hands, compared to its average volume of 10,299,178. Altice USA has a 52 week low of $17.30 and a 52 week high of $38.30. The firm has a 50 day moving average of $25.18 and a 200-day moving average of $31.24. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 8.64 and a beta of 1.18.

About Altice USA

Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Lightpath, AMS, News 12 Networks, and News 12 Varsity. The firm operates through the Cablevision and Cequel business operations.

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