Altice USA (NYSE:ATUS) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

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

Altice USA Stock Down 1.7 %

Shares of NYSE ATUS opened at $2.55 on Wednesday. Altice USA has a 12 month low of $1.52 and a 12 month high of $3.66. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -6.88, a P/E/G ratio of 9.87 and a beta of 1.52. The business has a fifty day simple moving average of $2.30 and a 200-day simple moving average of $2.12.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the sale, the director now directly owns 38,860,998 shares in the company, valued at approximately $952,094,451. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 4,026,135 shares of company stock valued at $98,640,308 over the last three months. Insiders own 52.90% of the company’s stock.

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.