Altice USA (NYSE:ATUS) Announces Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Key Points

• Altice USA reported a quarterly loss of ($0.21) EPS, missing analysts' expectations by ($0.15) EPS, and experienced a 4.2% decline in revenue year-over-year with a total revenue of $2.15 billion.
• Institutional investors own 54.85% of Altice USA's stock, with significant increases in holdings reported by firms such as Royal Bank of Canada and Goldman Sachs Group.
• Analysts have set a consensus target price of $3.05 for Altice USA shares, with various ratings including one 'sell,' one 'hold,' and three 'buy' recommendations.

Altice USA (NYSE:ATUS - Get Free Report) announced its earnings results on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.15), Zacks reports. The company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the company earned $0.03 EPS. The firm's quarterly revenue was down 4.2% compared to the same quarter last year.

Altice USA Price Performance

Shares of Altice USA stock opened at $2.19 on Friday. The company's fifty day moving average price is $2.37 and its two-hundred day moving average price is $2.52. The firm has a market capitalization of $1.02 billion, a PE ratio of -6.43 and a beta of 1.55. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20.

Institutional Trading of Altice USA

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in shares of Altice USA by 365.8% in the first quarter. Royal Bank of Canada now owns 2,171,000 shares of the company's stock valued at $5,775,000 after purchasing an additional 1,704,908 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Altice USA by 4.7% in the 1st quarter. AQR Capital Management LLC now owns 806,675 shares of the company's stock valued at $2,146,000 after buying an additional 36,260 shares during the period. Millennium Management LLC raised its position in shares of Altice USA by 10.5% during the first quarter. Millennium Management LLC now owns 5,516,311 shares of the company's stock worth $14,673,000 after acquiring an additional 524,169 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Altice USA by 46.6% during the first quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company's stock valued at $17,016,000 after acquiring an additional 2,031,971 shares during the period. Finally, Caxton Associates LLP bought a new position in Altice USA in the first quarter valued at about $88,000. Institutional investors and hedge funds own 54.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ATUS shares. Barclays upped their price target on shares of Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. The Goldman Sachs Group upped their price target on Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $3.05.

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.

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