Altice USA Inc (ATUS) Expected to Announce Quarterly Sales of $2.46 Billion

Wall Street brokerages predict that Altice USA Inc (NYSE:ATUS) will announce sales of $2.46 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Altice USA’s earnings, with estimates ranging from $2.45 billion to $2.47 billion. Altice USA posted sales of $2.37 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The business is expected to announce its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Altice USA will report full year sales of $9.57 billion for the current fiscal year, with estimates ranging from $9.56 billion to $9.58 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $9.82 billion, with estimates ranging from $9.78 billion to $9.90 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Altice USA.

ATUS has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Altice USA from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. Nomura initiated coverage on shares of Altice USA in a research note on Wednesday, January 16th. They set a “buy” rating and a $25.00 price objective on the stock. ValuEngine lowered shares of Altice USA from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Wolfe Research initiated coverage on shares of Altice USA in a research note on Friday, December 7th. They set an “outperform” rating on the stock. Finally, UBS Group initiated coverage on shares of Altice USA in a research note on Thursday, November 15th. They set a “buy” rating and a $26.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $24.65.

A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in Altice USA by 123.5% during the 4th quarter. Bank of Montreal Can now owns 1,647 shares of the company’s stock worth $27,000 after buying an additional 910 shares during the period. Exane Derivatives raised its holdings in Altice USA by 26.0% during the 4th quarter. Exane Derivatives now owns 9,927 shares of the company’s stock worth $164,000 after buying an additional 2,047 shares during the period. Athena Capital Advisors LLC acquired a new stake in Altice USA during the 4th quarter worth approximately $38,000. Pendal Group Ltd raised its holdings in Altice USA by 30.9% during the 4th quarter. Pendal Group Ltd now owns 12,324 shares of the company’s stock worth $204,000 after buying an additional 2,910 shares during the period. Finally, Stevens Capital Management LP raised its holdings in Altice USA by 9.1% during the 4th quarter. Stevens Capital Management LP now owns 35,800 shares of the company’s stock worth $591,000 after buying an additional 2,988 shares during the period. Hedge funds and other institutional investors own 41.51% of the company’s stock.

Altice USA stock traded up $0.12 during midday trading on Friday, hitting $20.94. 80,435 shares of the stock were exchanged, compared to its average volume of 5,447,145. Altice USA has a 52 week low of $14.49 and a 52 week high of $21.49. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 1,045.50 and a beta of 1.07. The company has a debt-to-equity ratio of 6.11, a current ratio of 0.45 and a quick ratio of 0.45.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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