Altice USA (NYSE:ATUS) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

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

Altice USA Stock Down 3.4 %

NYSE:ATUS traded down $0.07 during trading hours on Friday, reaching $1.98. The company had a trading volume of 8,792,934 shares, compared to its average volume of 2,265,250. The firm has a market cap of $903.11 million, a price-to-earnings ratio of 198.00 and a beta of 1.38. The business’s 50-day simple moving average is $2.42 and its two-hundred day simple moving average is $2.47. Altice USA has a twelve month low of $1.75 and a twelve month high of $3.82.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore ISI reaffirmed an “in-line” rating and set a $3.00 price target on shares of Altice USA in a research note on Tuesday, March 26th. Wells Fargo & Company downgraded shares of Altice USA from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $2.00 to $1.00 in a research note on Friday, April 5th. BNP Paribas downgraded shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a research note on Tuesday, April 9th. Bank of America assumed coverage on shares of Altice USA in a research note on Wednesday, April 24th. They set an “underperform” rating and a $1.50 price target for the company. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Altice USA currently has a consensus rating of “Hold” and a consensus target price of $2.68.

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.