Q1 2024 EPS Estimates for Altice USA, Inc. Decreased by Analyst (NYSE:ATUS)

Posted by on Jun 5th, 2023

Altice USA, Inc. (NYSE:ATUS – Get Rating) – Equities research analysts at Zacks Research lowered their Q1 2024 earnings per share estimates for Altice USA in a report released on Friday, June 2nd. Zacks Research analyst S. Bose now anticipates that the company will earn $0.01 per share for the quarter, down from their prior estimate of $0.02. The consensus estimate for Altice USA’s current full-year earnings is $0.29 per share. Zacks Research also issued estimates for Altice USA’s Q4 2024 earnings at $0.00 EPS, FY2024 earnings at $0.07 EPS and FY2025 earnings at $0.11 EPS.

Altice USA (NYSE:ATUS – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Altice USA had a negative return on equity of 16.96% and a net margin of 0.25%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis.

A number of other equities research analysts have also recently issued reports on the company. Loop Capital decreased their target price on Altice USA from $12.00 to $3.00 in a research report on Thursday, May 4th. Barclays decreased their target price on Altice USA from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, February 23rd. Pivotal Research decreased their target price on Altice USA from $4.50 to $3.00 in a research report on Friday, May 5th. Cowen decreased their target price on Altice USA from $21.00 to $18.00 in a research report on Thursday, February 23rd. Finally, TheStreet cut Altice USA from a “c-” rating to a “d” rating in a research report on Monday, May 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Altice USA presently has an average rating of “Hold” and a consensus price target of $8.42.

Altice USA Stock Up 8.2 %

Shares of Altice USA stock opened at $2.63 on Monday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 52.61, a PEG ratio of 0.62 and a beta of 1.37. The stock has a 50 day moving average price of $2.93 and a two-hundred day moving average price of $3.83. Altice USA has a 12-month low of $2.31 and a 12-month high of $13.17.

Institutional Trading of Altice USA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Equitable Holdings Inc. acquired a new stake in Altice USA in the first quarter worth about $34,000. Covestor Ltd boosted its holdings in Altice USA by 798.9% during the first quarter. Covestor Ltd now owns 3,353 shares of the company’s stock worth $42,000 after buying an additional 2,980 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Altice USA during the first quarter worth about $43,000. Diversified Trust Co bought a new position in Altice USA during the fourth quarter worth about $48,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Altice USA during the fourth quarter worth about $49,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

About Altice USA

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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.

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Earnings History and Estimates for Altice USA (NYSE:ATUS)

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