Zacks: Brokerages Anticipate Altice USA, Inc. (NYSE:ATUS) Will Announce Earnings of $0.32 Per Share

Wall Street brokerages forecast that Altice USA, Inc. (NYSE:ATUSGet Rating) will report earnings per share (EPS) of $0.32 for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Altice USA’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.35. Altice USA reported earnings of $0.52 per share during the same quarter last year, which would suggest a negative year over year growth rate of 38.5%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Altice USA will report full year earnings of $1.33 per share for the current financial year, with EPS estimates ranging from $0.56 to $1.51. For the next financial year, analysts expect that the business will report earnings of $1.37 per share, with EPS estimates ranging from $0.95 to $1.77. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Altice USA.

Altice USA (NYSE:ATUSGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.44 billion. Altice USA had a negative return on equity of 85.33% and a net margin of 9.10%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 EPS.

Several research analysts have commented on ATUS shares. Pivotal Research dropped their price target on Altice USA from $18.00 to $15.00 in a research report on Friday. Exane BNP Paribas raised Altice USA from an “underperform” rating to a “neutral” rating in a research report on Friday, February 18th. Zacks Investment Research downgraded Altice USA from a “hold” rating to a “sell” rating and set a $13.00 price target on the stock. in a research report on Wednesday, January 19th. Citigroup lowered their price objective on Altice USA from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, February 17th. Finally, Wolfe Research cut Altice USA from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $26.00 to $17.00 in a research report on Monday, January 3rd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.81.

Shares of NYSE ATUS opened at $9.28 on Friday. The business’s 50 day moving average is $11.54 and its two-hundred day moving average is $14.37. The company has a market cap of $4.22 billion, a P/E ratio of 4.64, a P/E/G ratio of 0.32 and a beta of 1.12. Altice USA has a 12 month low of $9.06 and a 12 month high of $38.19.

A number of institutional investors have recently bought and sold shares of the business. Greenleaf Trust acquired a new position in Altice USA in the first quarter worth $183,000. Dupont Capital Management Corp acquired a new position in Altice USA in the first quarter worth $239,000. First Citizens Bank & Trust Co. acquired a new position in Altice USA in the first quarter worth $374,000. Thompson Siegel & Walmsley LLC boosted its stake in Altice USA by 50.8% in the first quarter. Thompson Siegel & Walmsley LLC now owns 6,968,472 shares of the company’s stock worth $86,966,000 after purchasing an additional 2,348,506 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Altice USA by 117.6% in the first quarter. Exchange Traded Concepts LLC now owns 12,965 shares of the company’s stock worth $162,000 after purchasing an additional 7,008 shares in the last quarter. 54.30% of the stock is currently owned by institutional investors.

About Altice USA (Get Rating)

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 approximately five million 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.

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