Altice USA (NYSE:ATUS) Issues Earnings Results, Misses Expectations By $0.16 EPS

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

Altice USA Stock Performance

NYSE ATUS traded up $0.10 during trading on Thursday, reaching $2.81. 3,227,616 shares of the company traded hands, compared to its average volume of 3,302,769. The stock’s 50 day moving average price is $2.64 and its two-hundred day moving average price is $2.37. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -7.58 and a beta of 1.52. Altice USA has a 1-year low of $1.52 and a 1-year high of $3.20.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Citigroup lifted their target price 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 decreased 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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 805,230 shares of Altice USA stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00. Following the completion of the transaction, the director now owns 14,704,182 shares in the company, valued at approximately $360,252,459. The trade was a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 8,857,515 shares of company stock valued at $217,009,118. 52.90% of the stock is currently owned by corporate insiders.

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.