Wall Street brokerages expect that Altice USA, Inc. (NYSE:ATUS) will announce earnings of $0.51 per share for the current fiscal quarter, Zacks reports. Thirteen analysts have issued estimates for Altice USA’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.41. Altice USA posted earnings of $0.34 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is expected to announce its next earnings report on Thursday, November 4th.
On average, analysts expect that Altice USA will report full year earnings of $2.10 per share for the current financial year, with EPS estimates ranging from $1.65 to $2.58. For the next year, analysts forecast that the business will report earnings of $2.32 per share, with EPS estimates ranging from $1.68 to $3.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Altice USA.
Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Tuesday, July 27th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. Altice USA had a net margin of 8.00% and a negative return on equity of 129.77%.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Altice USA from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a report on Tuesday, June 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Altice USA from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 29th. HSBC raised shares of Altice USA from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Friday, August 6th. FIX lowered shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $38.00 price target for the company. in a report on Tuesday, May 18th. Finally, Raymond James lowered shares of Altice USA from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $40.00 to $38.00 in a report on Thursday, July 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $39.21.
I believe we’re on the cusp of something we haven’t seen in 20 years. Fortunes will be made and lost.
In other Altice USA news, Director Alt S.A.R.L. Next sold 2,350,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 25th. The shares were sold at an average price of $37.21, for a total value of $87,443,500.00. Following the sale, the director now owns 34,719,305 shares in the company, valued at $1,291,905,339.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Olsen sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $36.19, for a total transaction of $108,570.00. Following the completion of the sale, the executive vice president now owns 38,038 shares in the company, valued at approximately $1,376,595.22. The disclosure for this sale can be found here. Insiders have sold a total of 2,389,000 shares of company stock worth $88,854,940 in the last quarter. 53.10% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Altice USA by 65.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,864,921 shares of the company’s stock valued at $575,768,000 after acquiring an additional 6,682,980 shares during the last quarter. Pelham Capital Ltd. raised its stake in Altice USA by 11.8% during the first quarter. Pelham Capital Ltd. now owns 8,069,842 shares of the company’s stock worth $262,512,000 after buying an additional 853,487 shares during the last quarter. Zimmer Partners LP raised its stake in Altice USA by 1.3% during the first quarter. Zimmer Partners LP now owns 7,146,237 shares of the company’s stock worth $232,467,000 after buying an additional 94,000 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Altice USA by 76.9% during the first quarter. UBS Asset Management Americas Inc. now owns 6,726,080 shares of the company’s stock worth $218,799,000 after buying an additional 2,923,303 shares during the last quarter. Finally, FMR LLC raised its stake in Altice USA by 1.3% during the second quarter. FMR LLC now owns 4,706,103 shares of the company’s stock worth $160,667,000 after buying an additional 62,463 shares during the last quarter. 55.01% of the stock is owned by hedge funds and other institutional investors.
ATUS stock opened at $28.24 on Friday. The stock has a 50 day moving average of $33.16. Altice USA has a fifty-two week low of $25.08 and a fifty-two week high of $38.30. The company has a market cap of $12.91 billion, a PE ratio of 17.65 and a beta of 1.09.
About Altice USA
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.
Recommended Story: Stock Market – What is a circuit breaker?
Get a free copy of the Zacks research report on Altice USA (ATUS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Altice USA right now?
Before you consider Altice USA, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Altice USA wasn’t on the list.
While Altice USA currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Leave a Reply