Altice USA Inc (NYSE:ATUS)’s stock price traded down 5.3% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $27.97 and last traded at $27.97, 15,856,555 shares traded hands during trading. An increase of 152% from the average session volume of 6,282,357 shares. The stock had previously closed at $29.55.
The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.10). Altice USA had a return on equity of 17.04% and a net margin of 3.61%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year.
A number of brokerages have recently weighed in on ATUS. Credit Suisse Group lowered their price objective on shares of Altice USA from $42.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday. Pivotal Research reiterated a “buy” rating and issued a $40.00 target price on shares of Altice USA in a research report on Wednesday. Stephens lifted their target price on shares of Altice USA from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Barclays downgraded shares of Altice USA from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $33.00 to $31.00 in a research note on Wednesday, November 6th. Finally, TD Securities cut their price target on shares of Altice USA from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $32.39.
In other Altice USA news, Director Gerrit Jan Bakker sold 12,802 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $27.00, for a total transaction of $345,654.00. Following the completion of the sale, the director now owns 29,951 shares of the company’s stock, valued at approximately $808,677. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 45.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in Altice USA by 4.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,535 shares of the company’s stock worth $315,000 after buying an additional 500 shares during the period. US Bancorp DE increased its stake in shares of Altice USA by 3.2% during the fourth quarter. US Bancorp DE now owns 16,738 shares of the company’s stock valued at $458,000 after buying an additional 513 shares during the period. Toronto Dominion Bank increased its stake in shares of Altice USA by 3.9% during the fourth quarter. Toronto Dominion Bank now owns 24,584 shares of the company’s stock valued at $672,000 after buying an additional 917 shares during the period. Machina Capital S.A.S. raised its holdings in shares of Altice USA by 17.4% during the fourth quarter. Machina Capital S.A.S. now owns 8,691 shares of the company’s stock valued at $238,000 after acquiring an additional 1,285 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. bought a new position in shares of Altice USA during the fourth quarter valued at approximately $40,000. 56.48% of the stock is currently owned by institutional investors.
The business has a 50 day moving average of $28.07 and a 200 day moving average of $27.87. The company has a market cap of $18.14 billion, a PE ratio of 56.30 and a beta of 0.81. The company has a debt-to-equity ratio of 11.57, a current ratio of 0.44 and a quick ratio of 0.44.
Altice USA Company Profile (NYSE:ATUS)
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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