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

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

Altice USA Price Performance

Altice USA stock traded down $0.01 during trading hours on Friday, hitting $2.73. 96,607 shares of the stock traded hands, compared to its average volume of 3,242,183. The firm’s 50 day moving average price is $2.64 and its 200-day moving average price is $2.37. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -7.36 and a beta of 1.52. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.20.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ATUS shares. Citigroup boosted their price target on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen reduced their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.30.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now owns 21,146,004 shares in the company, valued at $518,077,098. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 8,857,515 shares of company stock worth $217,009,118. 52.90% of the stock is currently owned by insiders.

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.