Altice USA (NYSE:ATUS) Issues Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Altice USA (NYSE:ATUS) announced its quarterly earnings data on Thursday. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16), Zacks reports.

Altice USA Stock Up 3.8 %

Shares of NYSE ATUS traded up $0.11 during trading hours on Friday, reaching $2.84. 1,874,438 shares of the stock traded hands, compared to its average volume of 2,911,083. The company has a market capitalization of $1.31 billion, a P/E ratio of -7.66 and a beta of 1.52. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20. The company’s 50-day simple moving average is $2.65 and its two-hundred day simple moving average is $2.38.

Insider Activity at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 21,146,004 shares of the company’s stock, valued at approximately $518,077,098. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 8,857,515 shares of company stock valued at $217,009,118. Corporate insiders own 52.90% of the company’s stock.

Analyst Upgrades and Downgrades

ATUS has been the subject of several analyst reports. TD Cowen cut their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Citigroup raised their target price on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.30.

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.