Zacks Research Equities Analysts Lift Earnings Estimates for Altice USA, Inc. (NYSE:ATUS)

Altice USA, Inc. (NYSE:ATUS) – Equities research analysts at Zacks Research lifted their Q2 2024 EPS estimates for Altice USA in a report released on Thursday, June 27th. Zacks Research analyst R. Department now anticipates that the company will earn $0.08 per share for the quarter, up from their prior estimate of $0.05. 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 $0.06 EPS and Q2 2025 earnings at $0.04 EPS.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year.

Other analysts have also issued research reports about the stock. Evercore ISI reiterated an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. The Goldman Sachs Group began coverage on shares of Altice USA in a research note on Monday. They issued a “sell” rating and a $2.00 price target for the company. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. Bank of America began coverage on Altice USA in a research report on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 target price for the company. Finally, BNP Paribas downgraded Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target on the stock. in a research note on Tuesday, April 9th. Six analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Altice USA presently has an average rating of “Hold” and a consensus price target of $2.37.

Altice USA Stock Performance

Shares of ATUS opened at $2.04 on Monday. The firm has a market cap of $936.02 million, a PE ratio of 204.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.49. Altice USA has a 52-week low of $1.75 and a 52-week high of $3.82. The business’s 50 day moving average price is $2.20 and its two-hundred day moving average price is $2.40.

Institutional Trading of Altice USA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB bought a new position in shares of Altice USA in the first quarter valued at approximately $66,000. Apollo Management Holdings L.P. increased its position in shares of Altice USA by 4.6% during the 1st quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock valued at $5,955,000 after purchasing an additional 100,000 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of Altice USA during the 1st quarter worth $65,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Altice USA by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock worth $1,193,000 after buying an additional 53,158 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in Altice USA during the first quarter valued at about $687,000. Hedge funds and other institutional investors 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.