Altice USA, Inc. (NYSE:ATUS – Get Rating) – KeyCorp decreased their Q2 2022 earnings per share estimates for Altice USA in a report released on Friday, April 29th. KeyCorp analyst B. Nispel now forecasts that the company will post earnings of $0.33 per share for the quarter, down from their prior forecast of $0.38. KeyCorp also issued estimates for Altice USA’s Q3 2022 earnings at $0.36 EPS, Q4 2022 earnings at $0.38 EPS, FY2022 earnings at $1.51 EPS and FY2023 earnings at $1.16 EPS. Altice USA (NYSE:ATUS – Get Rating) last released its earnings results on Thursday, April 28th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Altice USA had a negative return on equity of 85.33% and a net margin of 9.10%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS.
Several other equities research analysts have also recently commented on the company. Morgan Stanley cut their target price on Altice USA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, April 8th. BNP Paribas upgraded Altice USA from an “underperform” rating to a “neutral” rating and set a $11.00 price objective on the stock in a research note on Friday, February 18th. TD Securities dropped their price objective on Altice USA from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday. Zacks Investment Research cut Altice USA from a “hold” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research note on Wednesday, January 19th. Finally, Wolfe Research cut Altice USA from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $26.00 to $17.00 in a research note on Monday, January 3rd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.81.
NYSE ATUS opened at $9.28 on Monday. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 4.64, a PEG ratio of 0.34 and a beta of 1.12. The stock’s 50 day moving average price is $11.54 and its two-hundred day moving average price is $14.37. Altice USA has a 52 week low of $9.06 and a 52 week high of $38.19.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in shares of Altice USA by 26.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,247 shares of the company’s stock valued at $67,000 after acquiring an additional 678 shares during the period. Metropolitan Life Insurance Co NY lifted its position in shares of Altice USA by 9.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 11,024 shares of the company’s stock valued at $178,000 after acquiring an additional 990 shares during the period. Achmea Investment Management B.V. lifted its position in shares of Altice USA by 1.8% during the 3rd quarter. Achmea Investment Management B.V. now owns 58,730 shares of the company’s stock valued at $1,217,000 after acquiring an additional 1,064 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of Altice USA during the 4th quarter valued at $25,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Altice USA during the 4th quarter valued at $25,000. 50.14% of the stock is currently 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 approximately five million 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.