Altice USA (NYSE:ATUS) Issues Earnings Results

Altice USA (NYSE:ATUS - Get Free Report) released its earnings results on Monday. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13), Briefing.com reports. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS.

Altice USA Stock Down 1.7 %

Shares of Altice USA stock traded down $0.04 during mid-day trading on Tuesday, hitting $2.55. The stock had a trading volume of 7,237,235 shares, compared to its average volume of 3,471,430. The firm has a 50-day moving average of $2.30 and a two-hundred day moving average of $2.12. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.66. The firm has a market cap of $1.17 billion, a P/E ratio of -6.88, a price-to-earnings-growth ratio of 9.87 and a beta of 1.52.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 4,026,135 shares of company stock valued at $98,640,308 in the last 90 days. Company insiders own 52.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATUS. UBS Group cut shares of Altice USA from a "buy" rating to a "neutral" rating and cut their target price for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen lowered their price target on shares of Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a research report on Tuesday. Six 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's stock. According to data from MarketBeat, Altice USA currently has an average rating of "Hold" and a consensus price target of $2.12.

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.