Brokerages Expect Altice USA Inc (ATUS) Will Announce Earnings of -$0.03 Per Share

Equities research analysts predict that Altice USA Inc (NYSE:ATUS) will announce ($0.03) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Altice USA’s earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at $0.05. Altice USA reported earnings per share of ($0.08) in the same quarter last year, which would indicate a positive year over year growth rate of 62.5%. The company is expected to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Altice USA will report full year earnings of ($0.16) per share for the current year, with EPS estimates ranging from ($0.20) to ($0.08). For the next financial year, analysts forecast that the firm will report earnings of $0.23 per share, with EPS estimates ranging from ($0.44) to $0.70. Zacks’ EPS averages are a mean average based on a survey of research firms that follow Altice USA.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.08). Altice USA had a negative return on equity of 5.44% and a net margin of 19.65%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the firm earned ($0.73) earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year.

ATUS has been the subject of a number of research analyst reports. Buckingham Research reduced their price target on shares of Altice USA from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. TD Securities lifted their price target on shares of Altice USA from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup reduced their price target on shares of Altice USA from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Barclays reiterated a “buy” rating and issued a $25.00 price target on shares of Altice USA in a research note on Sunday, August 5th. Finally, Guggenheim upgraded shares of Altice USA from a “neutral” rating to a “buy” rating in a research note on Monday, July 9th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $25.98.

In related news, Vice Chairman Lisa Rosenblum sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $4,235,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Connolly sold 129,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $18.31, for a total transaction of $2,361,990.00. The disclosure for this sale can be found here. Insiders have sold 416,502 shares of company stock valued at $7,309,153 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Altice USA during the second quarter valued at approximately $104,000. Robeco Institutional Asset Management B.V. purchased a new position in Altice USA during the second quarter valued at approximately $140,000. Zeke Capital Advisors LLC purchased a new position in Altice USA during the second quarter valued at approximately $177,000. Quantitative Systematic Strategies LLC purchased a new position in Altice USA during the second quarter valued at approximately $178,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Altice USA during the second quarter valued at approximately $186,000. Institutional investors own 37.44% of the company’s stock.

Shares of ATUS stock traded up $0.12 during trading hours on Monday, reaching $19.12. The company had a trading volume of 4,704,400 shares, compared to its average volume of 3,850,260. Altice USA has a one year low of $16.25 and a one year high of $28.45. The firm has a market capitalization of $13.82 billion, a PE ratio of 957.50 and a beta of 0.64. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 5.65.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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