Altice USA, Inc. (NYSE:ATUS) Receives $2.30 Consensus PT from Analysts

Shares of Altice USA, Inc. (NYSE:ATUSGet Free Report) have received a consensus rating of “Reduce” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $2.30.

A number of research analysts recently weighed in on ATUS shares. TD Cowen dropped their price objective on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Citigroup boosted their price target on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

Read Our Latest Research Report on Altice USA

Altice USA Stock Performance

Altice USA stock opened at $2.92 on Friday. The firm has a 50 day moving average price of $2.56 and a 200 day moving average price of $2.29. 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 $1.35 billion, a PE ratio of -7.88 and a beta of 1.50.

Altice USA (NYSE:ATUSGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.13). The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.24 billion. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 EPS. As a group, equities research analysts forecast that Altice USA will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the transaction, the director now owns 34,029,636 shares in the company, valued at approximately $833,726,082. This represents a 2.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 12,883,650 shares of company stock valued at $315,649,425 in the last ninety days. Insiders own 52.90% of the company’s stock.

Hedge Funds Weigh In On Altice USA

Several large investors have recently bought and sold shares of ATUS. 140 Summer Partners LP acquired a new stake in shares of Altice USA during the third quarter worth about $9,004,000. LMR Partners LLP increased its position in Altice USA by 217.5% during the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after buying an additional 2,055,000 shares during the period. JPMorgan Chase & Co. increased its position in Altice USA by 1,617.7% during the third quarter. JPMorgan Chase & Co. now owns 1,902,834 shares of the company’s stock worth $4,681,000 after buying an additional 1,792,054 shares during the period. Paloma Partners Management Co boosted its holdings in shares of Altice USA by 172.6% in the third quarter. Paloma Partners Management Co now owns 2,210,941 shares of the company’s stock valued at $5,439,000 after acquiring an additional 1,400,000 shares during the period. Finally, Barclays PLC grew its position in shares of Altice USA by 120.3% during the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock worth $3,756,000 after acquiring an additional 834,030 shares during the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

About Altice USA

(Get Free Report

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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Analyst Recommendations for Altice USA (NYSE:ATUS)

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