Altice USA Inc (ATUS) Expected to Post Quarterly Sales of $2.47 Billion

Brokerages predict that Altice USA Inc (NYSE:ATUS) will post $2.47 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Altice USA’s earnings, with the lowest sales estimate coming in at $2.46 billion and the highest estimate coming in at $2.47 billion. Altice USA posted sales of $2.37 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The firm is expected to report its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Altice USA will report full year sales of $9.57 billion for the current financial year, with estimates ranging from $9.56 billion to $9.58 billion. For the next year, analysts anticipate that the company will report sales of $9.80 billion, with estimates ranging from $9.66 billion to $9.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Altice USA.

Altice USA (NYSE:ATUS) last announced its earnings results on Monday, November 5th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. Altice USA had a negative return on equity of 3.14% and a net margin of 21.73%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the business posted ($0.25) earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis.

Several brokerages recently commented on ATUS. TD Securities upped their target price on Altice USA from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, September 17th. Zacks Investment Research upgraded Altice USA from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Credit Suisse Group upped their target price on Altice USA from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup reduced their target price on Altice USA from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Finally, Royal Bank of Canada reduced their target price on Altice USA to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $24.67.

In other Altice USA news, SVP Victoria Mink sold 37,502 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $18.99, for a total value of $712,162.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David Connolly sold 129,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $18.31, for a total value of $2,361,990.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of ATUS. Wells Fargo & Company MN raised its position in shares of Altice USA by 19.6% during the first quarter. Wells Fargo & Company MN now owns 39,236 shares of the company’s stock worth $725,000 after purchasing an additional 6,441 shares during the period. Northern Trust Corp raised its position in shares of Altice USA by 4.7% during the first quarter. Northern Trust Corp now owns 134,075 shares of the company’s stock worth $2,478,000 after purchasing an additional 6,052 shares during the period. California Public Employees Retirement System acquired a new position in shares of Altice USA during the first quarter worth approximately $836,000. Millennium Management LLC acquired a new position in shares of Altice USA during the first quarter worth approximately $2,510,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Altice USA during the second quarter worth approximately $104,000. 37.18% of the stock is currently owned by institutional investors.

Shares of ATUS stock opened at $19.03 on Friday. Altice USA has a one year low of $14.49 and a one year high of $25.15. The company has a market capitalization of $13.19 billion, a P/E ratio of 951.50 and a beta of 0.74. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 5.65.

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

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