$2.46 Billion in Sales Expected for Altice USA Inc (ATUS) This Quarter

Brokerages forecast that Altice USA Inc (NYSE:ATUS) will announce $2.46 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Altice USA’s earnings. The lowest sales estimate is $2.45 billion and the highest is $2.47 billion. Altice USA posted sales of $2.37 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 3.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 26th.

On average, analysts expect that Altice USA will report full year sales of $9.57 billion for the current year, with estimates ranging from $9.56 billion to $9.58 billion. For the next year, analysts forecast that the business will report sales of $9.82 billion, with estimates ranging from $9.78 billion to $9.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Altice USA.

A number of brokerages have weighed in on ATUS. ValuEngine raised shares of Altice USA from a “hold” rating to a “buy” rating in a research note on Wednesday. Nomura began coverage on shares of Altice USA in a research note on Wednesday, January 16th. They set a “buy” rating and a $25.00 target price for the company. Wolfe Research started coverage on shares of Altice USA in a research note on Friday, December 7th. They set an “outperform” rating for the company. Citigroup reduced their price target on shares of Altice USA from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. Finally, UBS Group started coverage on shares of Altice USA in a research report on Thursday, November 15th. They set a “buy” rating and a $26.00 price target for the company. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Altice USA presently has an average rating of “Buy” and a consensus target price of $24.65.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its holdings in Altice USA by 123.5% in the fourth quarter. Bank of Montreal Can now owns 1,647 shares of the company’s stock worth $27,000 after purchasing an additional 910 shares during the last quarter. Athena Capital Advisors LLC purchased a new stake in Altice USA in the fourth quarter worth approximately $38,000. First Hawaiian Bank purchased a new stake in Altice USA in the fourth quarter worth approximately $132,000. Exane Derivatives boosted its holdings in Altice USA by 26.0% in the fourth quarter. Exane Derivatives now owns 9,927 shares of the company’s stock worth $164,000 after purchasing an additional 2,047 shares during the last quarter. Finally, Hilltop Holdings Inc. purchased a new stake in Altice USA in the fourth quarter worth approximately $176,000. 41.51% of the stock is owned by institutional investors.

Shares of NYSE ATUS traded up $0.16 on Friday, reaching $21.59. 3,653,300 shares of the company’s stock traded hands, compared to its average volume of 5,298,033. Altice USA has a 12 month low of $14.49 and a 12 month high of $21.81. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 1,079.50 and a beta of 1.07. The company has a debt-to-equity ratio of 6.11, a quick ratio of 0.45 and a current ratio of 0.45.

About Altice USA

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.

Read More: How to interpret a stock’s beta number

Get a free copy of the Zacks research report on Altice USA (ATUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Altice USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altice USA and related companies with MarketBeat.com's FREE daily email newsletter.