Altice USA (NYSE:ATUS) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Altice USA (NYSE:ATUS) issued its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05, Briefing.com reports. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Altice USA had a net margin of 3.16% and a return on equity of 12.66%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. Altice USA updated its FY 2019 guidance to EPS.

ATUS stock traded down $0.16 on Friday, hitting $26.98. The company’s stock had a trading volume of 6,574,064 shares, compared to its average volume of 3,681,926. The firm’s 50 day simple moving average is $24.96. Altice USA has a 1 year low of $14.49 and a 1 year high of $27.74. The stock has a market capitalization of $17.42 billion, a PE ratio of 337.25 and a beta of 0.99. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 7.77.

In related news, Director Dennis Okhuijsen sold 551,724 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $24.67, for a total value of $13,611,031.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 45.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ATUS. FMR LLC increased its stake in Altice USA by 104.2% in the 4th quarter. FMR LLC now owns 8,973,351 shares of the company’s stock valued at $148,240,000 after buying an additional 4,579,254 shares during the period. Neuberger Berman Group LLC increased its stake in Altice USA by 425.2% in the 1st quarter. Neuberger Berman Group LLC now owns 4,926,363 shares of the company’s stock valued at $105,818,000 after buying an additional 3,988,331 shares during the period. Norges Bank acquired a new position in Altice USA in the 4th quarter valued at $33,885,000. Deutsche Bank AG increased its stake in Altice USA by 28.4% in the 4th quarter. Deutsche Bank AG now owns 7,755,835 shares of the company’s stock valued at $128,125,000 after buying an additional 1,714,753 shares during the period. Finally, Miura Global Management LLC increased its stake in Altice USA by 200.0% in the 1st quarter. Miura Global Management LLC now owns 2,100,000 shares of the company’s stock valued at $45,108,000 after buying an additional 1,400,000 shares during the period. 50.32% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Altice USA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. TheStreet upgraded shares of Altice USA from a “d+” rating to a “c+” rating in a research report on Thursday, April 25th. Pivotal Research reiterated a “buy” rating and issued a $40.00 price target on shares of Altice USA in a research report on Wednesday. Macquarie assumed coverage on shares of Altice USA in a research report on Wednesday, June 19th. They issued a “buy” rating and a $30.00 price target for the company. Finally, ValuEngine downgraded shares of Altice USA from a “buy” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Altice USA currently has an average rating of “Buy” and a consensus target price of $29.42.

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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Earnings History for Altice USA (NYSE:ATUS)

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