Altice USA, Inc. (NYSE:ATUS – Get Rating) – Investment analysts at KeyCorp lowered their Q1 2023 earnings per share (EPS) estimates for shares of Altice USA in a research report issued to clients and investors on Monday, April 3rd. KeyCorp analyst B. Nispel now anticipates that the company will post earnings per share of $0.02 for the quarter, down from their previous estimate of $0.03. The consensus estimate for Altice USA’s current full-year earnings is $0.18 per share.
Several other brokerages also recently commented on ATUS. Bank of America began coverage on Altice USA in a research note on Thursday, December 8th. They set an “underperform” rating and a $3.50 price objective on the stock. Morgan Stanley lowered their price objective on shares of Altice USA from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, February 24th. TD Securities lowered their price target on shares of Altice USA from $6.00 to $4.75 and set a “hold” rating for the company in a report on Thursday, February 23rd. The Goldman Sachs Group downgraded Altice USA from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $5.00 in a report on Tuesday, January 10th. Finally, Cowen decreased their price objective on Altice USA from $21.00 to $18.00 in a report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.96.
Altice USA Stock Up 2.9 %
Altice USA (NYSE:ATUS – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.65). Altice USA had a negative return on equity of 51.00% and a net margin of 2.02%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis.
Institutional Trading of Altice USA
Several hedge funds have recently added to or reduced their stakes in ATUS. Alliancebernstein L.P. grew its stake in shares of Altice USA by 6.6% during the 4th quarter. Alliancebernstein L.P. now owns 97,447 shares of the company’s stock worth $448,000 after purchasing an additional 6,033 shares during the period. Public Employees Retirement System of Ohio increased its position in Altice USA by 2.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 107,242 shares of the company’s stock worth $493,000 after purchasing an additional 2,249 shares in the last quarter. CI Private Wealth LLC acquired a new stake in Altice USA in the fourth quarter valued at approximately $74,000. Gamco Investors INC. ET AL boosted its stake in shares of Altice USA by 33.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 22,900 shares of the company’s stock valued at $105,000 after buying an additional 5,700 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in Altice USA by 1,150.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 134,800 shares of the company’s stock worth $620,000 after purchasing an additional 124,023 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.
About Altice USA
Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Optimum Mobile, Altice Business, News 12 Networks, Cheddar News, a4 Advertising, and i24 News. The company was founded by Patrick Drahi in 2001 and is headquartered in Long Island City, NY.
Further Reading
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