Altice USA, Inc. to Post Q4 2023 Earnings of $0.02 Per Share, KeyCorp Forecasts (NYSE:ATUS)
Altice USA, Inc. (NYSE:ATUS – Free Report) – Equities research analysts at KeyCorp reduced their Q4 2023 earnings per share (EPS) estimates for Altice USA in a research note issued to investors on Wednesday, August 2nd. KeyCorp analyst B. Nispel now anticipates that the company will earn $0.02 per share for the quarter, down from their previous forecast of $0.10. The consensus estimate for Altice USA’s current full-year earnings is $0.40 per share. KeyCorp also issued estimates for Altice USA’s Q1 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.15 EPS and FY2024 earnings at $0.39 EPS.
ATUS has been the topic of a number of other reports. Loop Capital dropped their price objective on Altice USA from $12.00 to $3.00 in a research note on Thursday, May 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altice USA from $4.50 to $4.75 in a report on Friday, May 5th. TheStreet cut shares of Altice USA from a “c-” rating to a “d” rating in a research report on Monday, May 1st. Pivotal Research decreased their target price on Altice USA from $4.50 to $3.00 in a research report on Friday, May 5th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.88.
Altice USA Stock Performance
Altice USA stock opened at $3.64 on Monday. Altice USA has a 52-week low of $2.01 and a 52-week high of $12.28. The firm has a 50 day moving average price of $2.98 and a two-hundred day moving average price of $3.40. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -363.64 and a beta of 1.42.
Altice USA (NYSE:ATUS – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. Altice USA had a negative return on equity of 16.96% and a negative net margin of 0.04%. Altice USA’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share.
Institutional Trading of Altice USA
A number of large investors have recently bought and sold shares of ATUS. Paralel Advisors LLC bought a new stake in shares of Altice USA in the second quarter valued at approximately $1,670,000. Alaska Permanent Fund Corp bought a new stake in Altice USA during the second quarter valued at $2,551,000. Sageworth Trust Co purchased a new position in Altice USA during the second quarter worth about $121,000. Assenagon Asset Management S.A. increased its stake in Altice USA by 22.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 831,626 shares of the company’s stock worth $2,512,000 after acquiring an additional 153,905 shares during the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of Altice USA in the 2nd quarter valued at about $70,000. 56.48% of the stock is owned by hedge funds and other 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.
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