Equities research analysts predict that Altice USA Inc (NYSE:ATUS) will post $2.47 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Altice USA’s earnings, with estimates ranging from $2.46 billion to $2.49 billion. Altice USA posted sales of $2.44 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.2%. The business is expected to issue its next earnings results on Tuesday, November 3rd.
According to Zacks, analysts expect that Altice USA will report full-year sales of $9.94 billion for the current financial year, with estimates ranging from $9.92 billion to $9.95 billion. For the next fiscal year, analysts expect that the business will post sales of $10.15 billion, with estimates ranging from $10.07 billion to $10.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Altice USA.
Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Altice USA had a net margin of 1.91% and a return on equity of 14.30%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.42 billion.
ATUS has been the subject of several research reports. TheStreet upgraded shares of Altice USA from a “d-” rating to a “c” rating in a research report on Monday, June 22nd. Zacks Investment Research lowered shares of Altice USA from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a research report on Monday, August 3rd. Pivotal Research restated a “buy” rating and set a $36.00 price objective on shares of Altice USA in a research report on Thursday, July 30th. HSBC raised shares of Altice USA from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, July 15th. Finally, UBS Group raised shares of Altice USA to a “buy” rating in a research note on Tuesday, August 4th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Altice USA presently has a consensus rating of “Buy” and a consensus price target of $32.29.
In related news, EVP Michael Olsen sold 20,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $27.00, for a total value of $540,000.00. Following the transaction, the executive vice president now owns 99,938 shares in the company, valued at $2,698,326. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Colleen Schmidt sold 80,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $27.59, for a total value of $2,207,200.00. Following the completion of the transaction, the executive vice president now owns 254,301 shares in the company, valued at approximately $7,016,164.59. The disclosure for this sale can be found here. Insiders sold 4,000,796 shares of company stock valued at $101,040,822 over the last three months. 45.00% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ATUS. Veritas Asset Management LLP increased its holdings in Altice USA by 47.1% in the first quarter. Veritas Asset Management LLP now owns 29,458,575 shares of the company’s stock worth $656,632,000 after buying an additional 9,428,458 shares during the last quarter. Sylebra Capital Ltd acquired a new position in Altice USA during the first quarter valued at approximately $90,722,000. Samlyn Capital LLC grew its holdings in Altice USA by 271.6% during the first quarter. Samlyn Capital LLC now owns 5,151,711 shares of the company’s stock valued at $114,832,000 after purchasing an additional 3,765,206 shares during the last quarter. Zimmer Partners LP grew its holdings in Altice USA by 16.7% during the first quarter. Zimmer Partners LP now owns 9,838,437 shares of the company’s stock valued at $219,299,000 after purchasing an additional 1,409,120 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Altice USA by 231.5% during the first quarter. DAVENPORT & Co LLC now owns 1,971,656 shares of the company’s stock valued at $43,948,000 after purchasing an additional 1,376,824 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.
ATUS traded down $0.37 during trading on Thursday, hitting $26.65. The company had a trading volume of 6,899,825 shares, compared to its average volume of 5,481,287. Altice USA has a 1-year low of $15.95 and a 1-year high of $31.78. The company has a debt-to-equity ratio of 21.24, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50-day moving average of $26.40 and a 200-day moving average of $24.86. The company has a market cap of $15.41 billion, a PE ratio of 85.97 and a beta of 0.96.
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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