Altice USA (NYSE:ATUS) Announces Earnings Results, Misses Expectations By $0.06 EPS

Altice USA (NYSE:ATUS) released its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06), Briefing.com reports. Altice USA had a net margin of 0.07% and a negative return on equity of 1.59%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis.

Altice USA Stock Down 3.4 %

Shares of Altice USA stock traded down $0.07 during trading on Friday, reaching $1.98. 8,792,934 shares of the company were exchanged, compared to its average volume of 2,265,250. Altice USA has a twelve month low of $1.75 and a twelve month high of $3.82. The business has a 50-day moving average price of $2.42 and a 200-day moving average price of $2.47. The firm has a market capitalization of $903.11 million, a price-to-earnings ratio of 198.00 and a beta of 1.38.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ATUS. Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $2.00 to $1.00 in a report on Friday, April 5th. Bank of America assumed coverage on Altice USA in a report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 price target for the company. BNP Paribas cut Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price for the company. in a research note on Tuesday, April 9th. Evercore ISI reissued an “in-line” rating and issued a $3.00 target price on shares of Altice USA in a research note on Tuesday, March 26th. Finally, UBS Group lowered their target price on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $2.68.

About Altice USA

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.