Altice USA (NYSE:ATUS) Issues Earnings Results, Misses Expectations By $0.06 EPS

Altice USA (NYSE:ATUS) announced its earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06), Briefing.com reports. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS.

Altice USA Trading Down 3.4 %

Shares of ATUS traded down $0.07 during midday trading on Friday, reaching $1.98. 8,788,665 shares of the company were exchanged, compared to its average volume of 3,974,680. Altice USA has a 1-year low of $1.75 and a 1-year high of $3.82. The company has a market cap of $903.12 million, a price-to-earnings ratio of 16.50 and a beta of 1.38. The stock has a 50-day moving average price of $2.42 and a 200-day moving average price of $2.47.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ATUS. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Altice USA in a research report on Wednesday, March 20th. BNP Paribas downgraded Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective on the stock. in a research report on Tuesday, April 9th. Bank of America assumed coverage on Altice USA in a research report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 price objective for the company. Loop Capital reduced their target price on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.68.

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.