Altice USA (NYSE:ATUS) Announces Quarterly Earnings Results

Altice USA (NYSE:ATUS) issued its earnings results on Monday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13), Briefing.com reports. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. Altice USA’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share.

Altice USA Stock Performance

Shares of ATUS traded up $0.01 during trading hours on Tuesday, reaching $2.60. The stock had a trading volume of 4,947,890 shares, compared to its average volume of 3,460,732. Altice USA has a 12 month low of $1.52 and a 12 month high of $3.66. The stock has a market capitalization of $1.20 billion, a PE ratio of -19.92, a PEG ratio of 9.87 and a beta of 1.52. The company’s 50-day moving average is $2.29 and its two-hundred day moving average is $2.12.

Analyst Upgrades and Downgrades

Separately, UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and reduced their target price for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $1.97.

Insider Buying and Selling

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the transaction, the director now owns 38,055,771 shares of the company’s stock, valued at $932,366,389.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 3,220,908 shares of company stock worth $78,912,246 in the last 90 days. Insiders own 52.90% 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.