Altice USA Inc (ATUS) Expected to Post Quarterly Sales of $2.36 Billion

Wall Street brokerages predict that Altice USA Inc (NYSE:ATUS) will post $2.36 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Altice USA’s earnings. The lowest sales estimate is $2.35 billion and the highest is $2.36 billion. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, February 27th.

On average, analysts expect that Altice USA will report full year sales of $2.36 billion for the current year, with estimates ranging from $9.32 billion to $9.33 billion. For the next fiscal year, analysts forecast that the firm will post sales of $9.59 billion per share, with estimates ranging from $9.54 billion to $9.63 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Altice USA.

Several equities analysts have recently weighed in on the stock. Goldman Sachs Group upgraded shares of Altice USA from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, November 7th. Atlantic Securities assumed coverage on shares of Altice USA in a research note on Tuesday, October 31st. They issued an “overweight” rating and a $32.00 target price for the company. Deutsche Bank reiterated a “buy” rating and issued a $35.00 target price on shares of Altice USA in a research note on Monday, November 6th. Wells Fargo & Co reiterated a “market perform” rating and issued a $25.00 target price (down previously from $34.00) on shares of Altice USA in a research note on Monday, November 6th. Finally, Barclays upgraded shares of Altice USA from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $22.00 to $26.00 in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.21.

A number of large investors have recently modified their holdings of ATUS. Lucerne Capital Management LP bought a new stake in Altice USA during the fourth quarter valued at approximately $129,721,000. Zimmer Partners LP lifted its position in Altice USA by 48.4% during the fourth quarter. Zimmer Partners LP now owns 3,470,100 shares of the company’s stock valued at $73,670,000 after purchasing an additional 1,131,750 shares during the last quarter. BlackRock Inc. lifted its position in Altice USA by 161.5% during the fourth quarter. BlackRock Inc. now owns 3,227,522 shares of the company’s stock valued at $68,520,000 after purchasing an additional 1,993,479 shares during the last quarter. Pelham Capital Ltd. lifted its position in Altice USA by 54.9% during the fourth quarter. Pelham Capital Ltd. now owns 2,555,474 shares of the company’s stock valued at $54,253,000 after purchasing an additional 905,474 shares during the last quarter. Finally, Thornburg Investment Management Inc. lifted its position in Altice USA by 15.5% during the third quarter. Thornburg Investment Management Inc. now owns 2,469,626 shares of the company’s stock valued at $67,445,000 after purchasing an additional 332,260 shares during the last quarter. 14.65% of the stock is owned by institutional investors.

Altice USA (NYSE:ATUS) traded down $0.23 on Friday, hitting $18.56. 1,245,994 shares of the stock traded hands, compared to its average volume of 2,259,308. The stock has a market capitalization of $13,750.00 and a P/E ratio of -13.35. The company has a debt-to-equity ratio of 6.82, a current ratio of 0.32 and a quick ratio of 0.32. Altice USA has a 52-week low of $17.80 and a 52-week high of $35.29.

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About Altice USA

Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.

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