Altice USA (NYSE:ATUS) Releases Earnings Results, Misses Expectations By $0.05 EPS

Altice USA (NYSE:ATUS) announced its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05), Briefing.com reports. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm posted $0.17 EPS. The company’s revenue was down 3.6% compared to the same quarter last year.

Altice USA Trading Down 4.8 %

Shares of ATUS traded down $0.09 during trading hours on Friday, reaching $1.79. 1,771,532 shares of the stock traded hands, compared to its average volume of 3,599,177. The company has a market cap of $823.33 million, a price-to-earnings ratio of 177.01, a PEG ratio of 0.73 and a beta of 1.48. Altice USA has a 52 week low of $1.55 and a 52 week high of $3.82. The stock has a fifty day simple moving average of $2.11 and a 200 day simple moving average of $2.25.

Analyst Ratings Changes

A number of brokerages recently commented on ATUS. Bank of America began coverage on Altice USA in a research report on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 price target on the stock. Wells Fargo & Company lowered Altice USA from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $2.00 to $1.00 in a research note on Friday, April 5th. UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and cut their price target for the company from $4.00 to $2.00 in a research report on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Finally, Loop Capital reduced their target price on Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.07.

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.