Altice USA (NYSE:ATUS) Releases Earnings Results

Altice USA (NYSE:ATUS) issued its earnings results on Monday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13), Briefing.com reports. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. Altice USA’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.61 on Thursday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.04, a PEG ratio of 9.87 and a beta of 1.52. Altice USA has a one year low of $1.52 and a one year high of $3.66. The company’s 50-day simple moving average is $2.31 and its 200-day simple moving average is $2.12.

Insider Activity at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA 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 completion of the transaction, the director now owns 38,055,771 shares in the company, 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 can be accessed through the SEC website. Insiders sold a total of 4,026,135 shares of company stock valued at $98,640,308 over the last three months. 52.90% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.