Altice USA (NYSE:ATUS) Announces Earnings Results

Altice USA (NYSE:ATUS) released its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06), Briefing.com reports. Altice USA had a net margin of 0.07% and a negative return on equity of 1.59%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis.

Altice USA Trading Down 3.4 %

NYSE:ATUS traded down $0.07 during mid-day trading on Friday, hitting $1.98. The company’s stock had a trading volume of 8,792,934 shares, compared to its average volume of 2,265,250. Altice USA has a fifty-two week low of $1.75 and a fifty-two week high of $3.82. The company has a market capitalization of $903.11 million, a price-to-earnings ratio of 198.00 and a beta of 1.38. The stock has a fifty day moving average of $2.42 and a 200-day moving average of $2.47.

Analyst Ratings Changes

ATUS has been the subject of a number of recent analyst reports. Loop Capital decreased their price target on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Wells Fargo & Company lowered shares of Altice USA from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $2.00 to $1.00 in a research report on Friday, April 5th. Bank of America assumed coverage on shares of Altice USA in a research report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $5.00 price objective on shares of Altice USA in a research report on Wednesday, March 20th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $3.00 price objective on shares of Altice USA in a research report on Tuesday, March 26th. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.68.

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.