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

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

Altice USA Stock Performance

NYSE ATUS traded down $0.02 on Tuesday, reaching $2.57. 4,993,588 shares of the stock traded hands, compared to its average volume of 3,460,945. The company has a fifty day moving average price of $2.29 and a 200-day moving average price of $2.12. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -20.00, a PEG ratio of 9.87 and a beta of 1.52. Altice USA has a 12 month low of $1.52 and a 12 month high of $3.66.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and reduced their target price for the stock 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 analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Altice USA presently has a consensus rating of “Hold” and an average price target of $2.12.

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction on 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 of the company’s stock, valued at $952,094,451. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 3,220,908 shares of company stock valued at $78,912,246 in the last ninety days. Corporate insiders own 52.90% of the company’s stock.

Altice USA Company Profile

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.