Brokerages Anticipate Altice USA, Inc. (NYSE:ATUS) Will Post Quarterly Sales of $2.51 Billion

Brokerages forecast that Altice USA, Inc. (NYSE:ATUS) will report $2.51 billion in sales for the current fiscal quarter, according to Zacks. Thirteen analysts have made estimates for Altice USA’s earnings, with the highest sales estimate coming in at $2.54 billion and the lowest estimate coming in at $2.46 billion. Altice USA posted sales of $2.43 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The business is expected to issue its next earnings results on Thursday, November 4th.

On average, analysts expect that Altice USA will report full year sales of $10.06 billion for the current fiscal year, with estimates ranging from $9.97 billion to $10.09 billion. For the next year, analysts forecast that the business will report sales of $10.27 billion, with estimates ranging from $10.05 billion to $10.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Altice USA.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Tuesday, July 27th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Altice USA had a negative return on equity of 129.77% and a net margin of 8.00%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.52 billion.

Several research firms have recently commented on ATUS. HSBC raised Altice USA from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Friday, August 6th. TD Securities cut their price objective on Altice USA from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, July 30th. Loop Capital began coverage on Altice USA in a report on Monday, September 20th. They issued a “hold” rating and a $28.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Altice USA from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 29th. Finally, Wells Fargo & Company lowered their target price on shares of Altice USA from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.84.

In related news, EVP Michael Olsen sold 3,000 shares of the business’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $30.97, for a total value of $92,910.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 9,000 shares of company stock worth $278,310 over the last ninety days. 53.10% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Altice USA during the 1st quarter worth about $2,255,000. Envestnet Asset Management Inc. increased its stake in shares of Altice USA by 40.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 29,794 shares of the company’s stock worth $969,000 after purchasing an additional 8,600 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Altice USA during the 1st quarter worth about $637,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Altice USA by 2.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,207 shares of the company’s stock valued at $1,503,000 after buying an additional 1,000 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Altice USA in the 1st quarter valued at about $1,838,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ATUS opened at $20.58 on Wednesday. The stock has a market capitalization of $9.41 billion, a P/E ratio of 12.86 and a beta of 1.08. The stock’s 50 day moving average price is $28.74 and its two-hundred day moving average price is $32.63. Altice USA has a 52-week low of $19.74 and a 52-week high of $38.30.

Altice USA Company Profile

Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Lightpath, AMS, News 12 Networks, and News 12 Varsity. The firm operates through the Cablevision and Cequel business operations.

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