Q1 2023 EPS Estimates for Altice USA, Inc. (NYSE:ATUS) Decreased by Analyst

Altice USA, Inc. (NYSE:ATUS – Get Rating) – Equities researchers at KeyCorp cut their Q1 2023 earnings per share (EPS) estimates for Altice USA in a research note issued to investors on Wednesday, August 3rd. KeyCorp analyst B. Nispel now forecasts that the company will earn $0.32 per share for the quarter, down from their previous forecast of $0.33. The consensus estimate for Altice USA’s current full-year earnings is $1.52 per share. KeyCorp also issued estimates for Altice USA’s Q2 2023 earnings at $0.22 EPS, Q3 2023 earnings at $0.38 EPS and Q4 2023 earnings at $0.42 EPS.

A number of other research firms have also recently issued reports on ATUS. TD Securities increased their price target on Altice USA from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Pivotal Research cut their price target on Altice USA from $18.00 to $15.00 in a report on Friday, April 29th. Benchmark cut their price target on Altice USA from $21.00 to $19.00 in a report on Friday, April 29th. JPMorgan Chase & Co. cut their target price on Altice USA from $18.00 to $14.00 in a report on Friday, April 29th. Finally, HSBC cut their target price on Altice USA from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Altice USA has an average rating of “Hold” and an average target price of $17.00.

Altice USA Stock Performance

Altice USA stock opened at $11.59 on Friday. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.29 and a beta of 1.27. Altice USA has a 52-week low of $7.58 and a 52-week high of $30.07. The stock’s 50 day moving average price is $9.78 and its two-hundred day moving average price is $11.19.

Altice USA (NYSE:ATUS – Get Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.09). Altice USA had a net margin of 8.23% and a negative return on equity of 99.75%. During the same period in the prior year, the firm earned $0.52 earnings per share.

Hedge Funds Weigh In On Altice USA

A number of large investors have recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators boosted its stake in Altice USA by 69.5% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,841 shares of the company’s stock worth $26,000 after purchasing an additional 1,165 shares during the period. Treasurer of the State of North Carolina increased its holdings in Altice USA by 1.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 77,282 shares of the company’s stock worth $964,000 after acquiring an additional 1,218 shares during the period. Westpac Banking Corp lifted its stake in Altice USA by 2.9% in the 4th quarter. Westpac Banking Corp now owns 67,748 shares of the company’s stock worth $1,096,000 after purchasing an additional 1,897 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in Altice USA by 10.2% in the 1st quarter. First Republic Investment Management Inc. now owns 21,131 shares of the company’s stock valued at $264,000 after purchasing an additional 1,953 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Altice USA by 1.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 141,165 shares of the company’s stock valued at $2,284,000 after purchasing an additional 2,000 shares in the last quarter. 54.30% of the stock is owned by institutional investors.

About Altice USA

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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 approximately five million 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.