Altice USA (ATUS) Scheduled to Post Quarterly Earnings on Wednesday

Altice USA (NYSE:ATUS) is set to post its quarterly earnings results after the market closes on Wednesday, November 1st. Analysts expect Altice USA to post earnings of $0.09 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.12. Altice USA had a negative return on equity of 16.96% and a negative net margin of 0.04%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the company posted $0.35 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. On average, analysts expect Altice USA to post $1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Altice USA Price Performance

ATUS stock opened at $2.71 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -270.73 and a beta of 1.37. Altice USA has a 1-year low of $2.01 and a 1-year high of $7.06. The firm has a fifty day moving average price of $3.10 and a two-hundred day moving average price of $3.02.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reaffirmed an “equal weight” rating and set a $3.00 price objective on shares of Altice USA in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Altice USA has an average rating of “Hold” and a consensus target price of $7.47.

Institutional Investors Weigh In On Altice USA

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Altice USA by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 771,039 shares of the company’s stock valued at $9,623,000 after purchasing an additional 37,677 shares during the period. American Century Companies Inc. grew its position in Altice USA by 22.7% in the first quarter. American Century Companies Inc. now owns 23,401 shares of the company’s stock worth $292,000 after buying an additional 4,336 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Altice USA by 35.6% in the first quarter. Cetera Advisor Networks LLC now owns 13,674 shares of the company’s stock valued at $171,000 after buying an additional 3,588 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Altice USA during the 1st quarter valued at $351,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Altice USA during the 1st quarter worth $134,000. Institutional investors and hedge funds own 54.59% 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.