Zacks: Analysts Anticipate Altice USA Inc (ATUS) Will Post Earnings of $0.01 Per Share

Analysts expect that Altice USA Inc (NYSE:ATUS) will announce earnings of $0.01 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Altice USA’s earnings. The lowest EPS estimate is ($0.14) and the highest is $0.10. Altice USA reported earnings per share of ($0.08) during the same quarter last year, which suggests a positive year over year growth rate of 112.5%. The company is expected to issue its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Altice USA will report full year earnings of ($0.08) per share for the current fiscal year, with EPS estimates ranging from ($0.20) to $0.04. For the next fiscal year, analysts forecast that the company will report earnings of $0.26 per share, with EPS estimates ranging from ($0.44) to $0.76. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Altice USA.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, August 2nd. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.08). The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Altice USA had a negative return on equity of 5.21% and a net margin of 19.65%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.73) earnings per share.

Several analysts recently weighed in on the stock. Barclays reiterated a “buy” rating and issued a $25.00 price target on shares of Altice USA in a report on Sunday, August 5th. Credit Suisse Group assumed coverage on shares of Altice USA in a report on Tuesday, July 10th. They issued an “outperform” rating and a $21.00 price target on the stock. Royal Bank of Canada cut their price target on shares of Altice USA to $25.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Altice USA from $16.25 to $35.29 and gave the company a “focus list” rating in a report on Thursday, May 10th. Finally, Zacks Investment Research cut shares of Altice USA from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $26.35.

NYSE:ATUS traded down $0.25 during trading hours on Tuesday, hitting $17.33. The company had a trading volume of 2,636,800 shares, compared to its average volume of 4,955,857. The stock has a market cap of $12.96 billion, a P/E ratio of 866.50 and a beta of 0.48. Altice USA has a 52 week low of $16.25 and a 52 week high of $31.90. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 4.04.

In other news, Vice Chairman Lisa Rosenblum sold 250,000 shares of the business’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $4,235,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Coronation Fund Managers Ltd. raised its position in shares of Altice USA by 417.3% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 2,118,604 shares of the company’s stock worth $36,143,000 after purchasing an additional 1,709,065 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Altice USA in the 2nd quarter worth about $330,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Altice USA in the 2nd quarter worth about $42,612,000. ING Groep NV purchased a new position in shares of Altice USA in the 2nd quarter worth about $203,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in shares of Altice USA in the 2nd quarter worth about $1,502,000. 19.34% of the stock is owned by hedge funds and other institutional investors.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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