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

Shares of Altice USA, Inc. (NYSE:ATUS) have been given a consensus rating of “Reduce” by the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $2.30.

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

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 15,299,331 shares of company stock valued at $374,833,610. Corporate insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Altice USA by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after purchasing an additional 24,501 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Altice USA during the 2nd quarter valued at approximately $25,000. XTX Topco Ltd lifted its holdings in Altice USA by 112.1% in the second quarter. XTX Topco Ltd now owns 81,314 shares of the company’s stock valued at $166,000 after acquiring an additional 42,975 shares during the last quarter. King Street Capital Management L.P. purchased a new position in Altice USA in the second quarter worth approximately $5,100,000. Finally, Aristeia Capital L.L.C. acquired a new stake in Altice USA during the second quarter worth $657,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Trading Down 5.7 %

Shares of NYSE:ATUS opened at $2.47 on Wednesday. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.19. The business has a 50 day moving average of $2.53 and a two-hundred day moving average of $2.22. The company has a market capitalization of $1.14 billion, a PE ratio of -6.68 and a beta of 1.50.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.09) EPS 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 analyst estimates of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. 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 posted $0.15 EPS. Equities research analysts predict that Altice USA will post -0.01 earnings per share for the current fiscal year.

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.