Altice USA (NYSE:ATUS) Announces Earnings Results, Misses Estimates By $0.16 EPS

Altice USA (NYSE:ATUS) released its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16), Zacks reports.

Altice USA Stock Performance

Shares of NYSE ATUS traded down $0.01 during mid-day trading on Friday, reaching $2.73. 96,607 shares of the company’s stock were exchanged, compared to its average volume of 3,242,183. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -7.36 and a beta of 1.52. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20. The company’s 50-day moving average is $2.64 and its 200-day moving average is $2.37.

Analyst Ratings Changes

Several brokerages recently commented on ATUS. Citigroup boosted their price target on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen dropped their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.30.

Insider Transactions at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,230 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the transaction, the director now owns 6,651,882 shares of the company’s stock, valued at approximately $162,971,109. This represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 8,857,515 shares of company stock worth $217,009,118. 52.90% of the stock is currently owned by company insiders.

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.