Altice USA (NYSE:ATUS) Stock Price Expected to Rise, Citigroup Analyst Says

Altice USA (NYSE:ATUS) had its target price hoisted by Citigroup from $2.50 to $3.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, TD Cowen dropped their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.30.

Altice USA Stock Up 2.7 %

Shares of NYSE:ATUS opened at $2.68 on Wednesday. The company has a 50-day moving average price of $2.50 and a 200 day moving average price of $2.21. Altice USA has a 12 month low of $1.52 and a 12 month high of $3.66.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. Research analysts expect that Altice USA will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now directly owns 38,055,771 shares in the company, valued at $932,366,389.50. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 12,078,411 shares of company stock valued at $295,921,070. Corporate insiders own 52.90% of the company’s stock.

Institutional Investors Weigh In On Altice USA

Hedge funds have recently modified their holdings of the business. US Bancorp DE raised its position in shares of Altice USA by 30.2% in the 3rd 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. Quadrature Capital Ltd purchased a new position in Altice USA in the third quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA in the second quarter worth about $25,000. D.A. Davidson & CO. purchased a new stake in shares of Altice USA during the third quarter valued at about $32,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Altice USA during the third quarter valued at about $39,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.