Altice USA (NYSE:ATUS) Announces Earnings Results

Altice USA (NYSE:ATUS) announced its quarterly earnings data on Monday. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13), Briefing.com reports. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.55 on Wednesday. The stock’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $2.12. Altice USA has a twelve month low of $1.52 and a twelve month high of $3.66. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.88, a PEG ratio of 9.87 and a beta of 1.52.

Insider Activity at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now directly owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 4,026,135 shares of company stock valued at $98,640,308. Corporate insiders own 52.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. TD Cowen reduced their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and reduced their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.12.

Altice USA Company Profile

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.