Brokers Issue Forecasts for Altice USA, Inc.'s Q3 2024 Earnings (NYSE:ATUS)

Altice USA, Inc. (NYSE:ATUS - Free Report) - Zacks Research reduced their Q3 2024 earnings per share estimates for Altice USA in a research note issued on Thursday, August 22nd. Zacks Research analyst R. Department now expects that the company will post earnings of $0.01 per share for the quarter, down from their prior forecast of $0.04. The consensus estimate for Altice USA's current full-year earnings is $0.17 per share. Zacks Research also issued estimates for Altice USA's Q4 2024 earnings at $0.03 EPS, Q2 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.01 EPS, FY2025 earnings at $0.01 EPS, Q2 2026 earnings at $0.03 EPS and FY2026 earnings at $0.06 EPS.

Altice USA (NYSE:ATUS - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The business had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period last year, the business earned $0.17 EPS. The company's revenue for the quarter was down 3.6% on a year-over-year basis.

Several other analysts have also commented on the company. The Goldman Sachs Group began coverage on Altice USA in a report on Monday, July 1st. They set a "sell" rating and a $2.00 target price on the stock. UBS Group cut shares of Altice USA from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Finally, Evercore ISI decreased their target price on shares of Altice USA from $3.00 to $2.00 and set an "in-line" rating for the company in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Altice USA presently has an average rating of "Hold" and an average price target of $1.97.

Altice USA Trading Up 2.7 %

Shares of NYSE ATUS traded up $0.05 during trading on Monday, reaching $1.89. 4,736,938 shares of the company traded hands, compared to its average volume of 3,569,191. The stock has a market cap of $869.33 million, a P/E ratio of 189.00, a PEG ratio of 0.66 and a beta of 1.48. The firm's fifty day simple moving average is $1.86 and its 200 day simple moving average is $2.17. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.66.

Institutional Trading of Altice USA

Several institutional investors have recently modified their holdings of the stock. Cerity Partners LLC purchased a new position in Altice USA in the 4th quarter valued at $197,000. Victory Capital Management Inc. boosted its position in Altice USA by 38.1% during the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company's stock worth $101,000 after acquiring an additional 8,600 shares during the last quarter. Segantii Capital Management Ltd purchased a new stake in Altice USA during the 4th quarter valued at about $100,000. Montag A & Associates Inc. purchased a new stake in Altice USA during the 4th quarter valued at about $32,000. Finally, Counterpoint Mutual Funds LLC lifted its stake in Altice USA by 24.2% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 93,240 shares of the company's stock worth $303,000 after purchasing an additional 18,146 shares in the last quarter. Institutional investors and hedge funds own 54.85% 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.