Altice USA Inc (ATUS) Expected to Post Quarterly Sales of $2.41 Billion

Equities analysts expect Altice USA Inc (NYSE:ATUS) to announce sales of $2.41 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Altice USA’s earnings, with estimates ranging from $2.40 billion to $2.42 billion. Altice USA posted sales of $2.33 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The business is expected to announce its next earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Altice USA will report full year sales of $9.82 billion for the current fiscal year, with estimates ranging from $9.80 billion to $9.84 billion. For the next fiscal year, analysts forecast that the firm will post sales of $10.15 billion, with estimates ranging from $10.12 billion to $10.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Altice USA.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, February 21st. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. Altice USA had a net margin of 0.20% and a return on equity of 1.59%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business earned $3.06 earnings per share. Altice USA’s revenue was up 4.0% compared to the same quarter last year.

A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Altice USA from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research assumed coverage on shares of Altice USA in a research report on Friday, December 7th. They issued an “outperform” rating for the company. ValuEngine upgraded shares of Altice USA from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. TD Securities raised their price objective on shares of Altice USA from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 22nd. Finally, Nomura assumed coverage on shares of Altice USA in a research report on Wednesday, January 16th. They issued a “buy” rating and a $25.00 price objective for the company. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.92.

In other news, major shareholder S.A.R.L. Suddenvision sold 20,645,478 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $21.35, for a total value of $440,780,955.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 42.92% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dodge & Cox increased its stake in shares of Altice USA by 0.4% in the third quarter. Dodge & Cox now owns 28,249,077 shares of the company’s stock worth $512,438,000 after buying an additional 99,592 shares during the period. Vanguard Group Inc. increased its stake in shares of Altice USA by 154.7% in the third quarter. Vanguard Group Inc. now owns 24,455,145 shares of the company’s stock worth $443,617,000 after buying an additional 14,855,173 shares during the period. Vanguard Group Inc increased its stake in shares of Altice USA by 154.7% in the third quarter. Vanguard Group Inc now owns 24,455,145 shares of the company’s stock worth $443,617,000 after buying an additional 14,855,173 shares during the period. FMR LLC increased its stake in shares of Altice USA by 104.2% in the fourth quarter. FMR LLC now owns 8,973,351 shares of the company’s stock worth $148,240,000 after buying an additional 4,579,254 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Altice USA by 8.8% in the third quarter. BlackRock Inc. now owns 6,880,262 shares of the company’s stock worth $124,808,000 after buying an additional 555,216 shares during the period. Hedge funds and other institutional investors own 42.00% of the company’s stock.

Shares of ATUS stock traded up $0.22 during trading hours on Wednesday, reaching $21.48. The stock had a trading volume of 4,876,429 shares, compared to its average volume of 4,598,444. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 6.16. Altice USA has a 12 month low of $14.49 and a 12 month high of $22.54. The firm has a market capitalization of $14.83 billion, a P/E ratio of 268.50 and a beta of 1.14.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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