Altice USA, Inc. (NYSE:ATUS) Expected to Announce Earnings of $0.50 Per Share

Analysts forecast that Altice USA, Inc. (NYSE:ATUS) will report $0.50 earnings per share (EPS) for the current quarter, Zacks reports. Thirteen analysts have issued estimates for Altice USA’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.58. Altice USA posted earnings of $0.34 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 47.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Altice USA will report full year earnings of $2.05 per share for the current year, with EPS estimates ranging from $1.74 to $2.20. For the next fiscal year, analysts forecast that the firm will post earnings of $2.31 per share, with EPS estimates ranging from $1.68 to $2.69. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Altice USA.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Tuesday, July 27th. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. Altice USA had a negative return on equity of 129.77% and a net margin of 8.00%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.52 billion.

A number of equities analysts recently weighed in on the company. HSBC upgraded Altice USA from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Friday, August 6th. TD Securities decreased their price objective on Altice USA from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, July 30th. Raymond James lowered Altice USA from an “outperform” rating to a “market perform” rating in a research report on Monday. Wells Fargo & Company decreased their price objective on Altice USA from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Altice USA from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.68.

Shares of NYSE:ATUS traded down $1.10 during midday trading on Monday, reaching $19.48. The company had a trading volume of 598,720 shares, compared to its average volume of 4,317,885. Altice USA has a 1-year low of $19.74 and a 1-year high of $38.30. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 12.04 and a beta of 1.08. The company has a fifty day simple moving average of $28.74 and a two-hundred day simple moving average of $32.62.

In related news, EVP Michael Olsen sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $27.58, for a total value of $82,740.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 9,000 shares of company stock worth $278,310 over the last ninety days. Corporate insiders own 53.10% of the company’s stock.

A number of large investors have recently bought and sold shares of ATUS. Ossiam bought a new position in shares of Altice USA during the first quarter worth approximately $56,000. Deseret Mutual Benefit Administrators acquired a new stake in Altice USA during the second quarter worth approximately $86,000. Dark Forest Capital Management LP acquired a new stake in Altice USA during the second quarter worth approximately $103,000. Advisory Services Network LLC acquired a new stake in Altice USA during the second quarter worth approximately $154,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Altice USA in the 1st quarter valued at $202,000. 54.85% of the stock is owned by hedge funds and other institutional investors.

Altice USA Company Profile

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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