KeyCorp Comments on Altice USA, Inc.’s Q4 2023 Earnings (NYSE:ATUS)

Altice USA, Inc. (NYSE:ATUS) – Investment analysts at KeyCorp dropped their Q4 2023 earnings per share estimates for Altice USA in a report issued on Wednesday, November 1st. KeyCorp analyst B. Nispel now anticipates that the company will post earnings of ($0.01) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for Altice USA’s current full-year earnings is $0.52 per share. KeyCorp also issued estimates for Altice USA’s Q4 2024 earnings at $0.11 EPS.

Separately, Morgan Stanley reaffirmed an “equal weight” rating and issued a $3.00 target price on shares of Altice USA in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.27.

Altice USA Stock Down 0.3 %

Shares of NYSE ATUS opened at $2.90 on Friday. The business’s 50 day moving average price is $3.08 and its two-hundred day moving average price is $3.01. The company has a market cap of $1.32 billion, a PE ratio of -57.99 and a beta of 1.39. Altice USA has a twelve month low of $2.01 and a twelve month high of $5.57.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 16.96% and a negative net margin of 0.24%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share.

Institutional Investors Weigh In On Altice USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATUS. AQR Capital Management LLC lifted its stake in Altice USA by 514.8% during the fourth quarter. AQR Capital Management LLC now owns 12,069,565 shares of the company’s stock worth $54,494,000 after purchasing an additional 10,106,315 shares during the last quarter. Redwood Capital Management LLC boosted its holdings in shares of Altice USA by 163.1% during the 2nd quarter. Redwood Capital Management LLC now owns 16,024,591 shares of the company’s stock valued at $48,394,000 after acquiring an additional 9,934,099 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Altice USA by 916.5% during the 1st quarter. Bank of America Corp DE now owns 10,064,744 shares of the company’s stock valued at $34,421,000 after acquiring an additional 9,074,653 shares in the last quarter. Hudson Bay Capital Management LP boosted its holdings in shares of Altice USA by 3,035.2% during the 1st quarter. Hudson Bay Capital Management LP now owns 4,822,657 shares of the company’s stock valued at $16,493,000 after acquiring an additional 4,668,832 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Altice USA by 102.8% during the 4th quarter. Morgan Stanley now owns 7,544,069 shares of the company’s stock valued at $34,703,000 after acquiring an additional 3,823,987 shares in the last quarter. 54.59% of the stock is currently owned by institutional investors.

About Altice USA

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.