Altice USA (NYSE:ATUS) Posts Earnings Results

Altice USA (NYSE:ATUS) released its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05), Briefing.com reports. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share.

Altice USA Price Performance

Altice USA stock traded down $0.09 during mid-day trading on Friday, hitting $1.79. 1,771,532 shares of the company were exchanged, compared to its average volume of 3,599,177. The business’s 50 day simple moving average is $2.11 and its two-hundred day simple moving average is $2.25. The company has a market capitalization of $823.33 million, a P/E ratio of 177.01, a PEG ratio of 0.73 and a beta of 1.48. Altice USA has a 12-month low of $1.55 and a 12-month high of $3.82.

Analysts Set New Price Targets

A number of research firms recently commented on ATUS. Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $2.00 to $1.00 in a report on Friday, April 5th. Bank of America started coverage on Altice USA in a research note on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 target price on the stock. Evercore ISI cut their price target on Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a research note on Thursday, April 11th. Finally, BNP Paribas lowered Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price on the stock. in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.07.

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.