Altice USA, Inc. (NYSE:ATUS) Receives $2.30 Consensus Price Target from Brokerages

Altice USA, Inc. (NYSE:ATUS) has earned an average rating of “Reduce” from the eleven research firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $2.30.

ATUS has been the topic of a number of analyst reports. TD Cowen lowered their target price on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Citigroup boosted their price objective on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

Altice USA Stock Performance

ATUS stock opened at $2.85 on Friday. The stock has a fifty day moving average of $2.58 and a 200-day moving average of $2.30. Altice USA has a fifty-two week low of $1.52 and a fifty-two week high of $3.18. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.69 and a beta of 1.50.

Altice USA (NYSE:ATUS) last posted its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm earned $0.15 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts predict that Altice USA will post -0.06 EPS for the current year.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now owns 30,808,728 shares in the company, valued at approximately $754,813,836. This trade represents a 2.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 12,078,423 shares of company stock valued at $295,921,364 in the last 90 days. Corporate insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA during the second quarter worth about $25,000. Quadrature Capital Ltd bought a new stake in Altice USA in the 3rd quarter worth approximately $27,000. D.A. Davidson & CO. purchased a new stake in Altice USA in the third quarter worth approximately $32,000. Wolverine Trading LLC bought a new position in Altice USA during the third quarter valued at approximately $39,000. Finally, US Bancorp DE raised its stake in shares of Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after acquiring an additional 5,000 shares in the last quarter. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.