Zacks Research Brokers Boost Earnings Estimates for Altice USA, Inc. (NYSE:ATUS)

Altice USA, Inc. (NYSE:ATUS) – Equities researchers at Zacks Research upped their Q2 2024 earnings estimates for Altice USA in a report released on Thursday, June 27th. Zacks Research analyst R. Department now expects that the company will earn $0.08 per share for the quarter, up from their previous forecast of $0.05. The consensus estimate for Altice USA’s current full-year earnings is $0.17 per share. Zacks Research also issued estimates for Altice USA’s Q4 2024 earnings at $0.06 EPS and Q2 2025 earnings at $0.04 EPS.

A number of other equities research analysts have also commented on ATUS. Loop Capital lowered their price target on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Bank of America began coverage on shares of Altice USA in a report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 target price for the company. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Altice USA in a report on Wednesday, March 20th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lowered Altice USA from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.41.

Altice USA Stock Performance

NYSE:ATUS opened at $2.04 on Monday. Altice USA has a fifty-two week low of $1.75 and a fifty-two week high of $3.82. The firm has a market cap of $938.32 million, a PE ratio of 204.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.50. The business has a 50 day moving average price of $2.20 and a 200-day moving average price of $2.40.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently made changes to their positions in the company. Montag A & Associates Inc. purchased a new stake in shares of Altice USA in the 4th quarter worth about $32,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Altice USA in the 3rd quarter worth approximately $37,000. Headlands Technologies LLC bought a new position in shares of Altice USA during the first quarter valued at $46,000. Quadrature Capital Ltd purchased a new stake in Altice USA during the 4th quarter valued at about $47,000. Finally, Alpine Global Management LLC bought a new stake in Altice USA during the 1st quarter valued at about $65,000. 54.85% of the stock is currently owned by institutional investors.

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.