Brokerages Set Altice USA, Inc. (NYSE:ATUS) PT at $2.12

Altice USA, Inc. (NYSE:ATUS) has been given a consensus recommendation of “Reduce” by the eleven brokerages that are covering the company, Marketbeat reports. Six analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.12.

ATUS has been the topic of several research analyst reports. UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and lowered their target price for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen cut their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

Altice USA Trading Down 2.2 %

Altice USA stock opened at $2.61 on Tuesday. Altice USA has a 52 week low of $1.52 and a 52 week high of $3.66. The company’s 50-day moving average price is $2.40 and its two-hundred day moving average price is $2.15. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -7.27, a PEG ratio of 55.55 and a beta of 1.52.

Altice USA (NYSE:ATUS) last announced its 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 for the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the firm 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 Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the sale, the director now directly owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 5,636,589 shares of company stock worth $138,096,431. 52.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altice USA

Several institutional investors have recently modified their holdings of ATUS. Vanguard Personalized Indexing Management LLC acquired a new stake in Altice USA during the 2nd quarter worth $25,000. D.A. Davidson & CO. acquired a new stake in shares of Altice USA in the 3rd quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new position in Altice USA during the first quarter valued at approximately $46,000. US Bancorp DE increased its stake in Altice USA by 30.2% in the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in Altice USA in the first quarter worth $65,000. Institutional investors and hedge funds 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.