Altice USA (NYSE:ATUS) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Altice USA (NYSE:ATUS) announced its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16), Zacks reports.

Altice USA Stock Performance

NYSE:ATUS traded up $0.12 during trading hours on Thursday, reaching $2.83. The stock had a trading volume of 3,114,095 shares, compared to its average volume of 3,301,104. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.20. The stock has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $2.37. The stock has a market cap of $1.30 billion, a P/E ratio of -7.63 and a beta of 1.52.

Insider Transactions at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00. Following the sale, the director now owns 6,651,882 shares of the company’s stock, valued at $162,971,109. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 8,857,515 shares of company stock worth $217,009,118. 52.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Cowen cut their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Citigroup upped their price objective on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.30.

About Altice USA

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.