Altice USA (NYSE:ATUS) Price Target Raised to $3.00

Altice USA (NYSE:ATUS) had its price target lifted by Citigroup from $2.50 to $3.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

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

Altice USA Stock Up 2.7 %

NYSE:ATUS opened at $2.68 on Wednesday. The company has a 50 day simple moving average of $2.50 and a two-hundred day simple moving average 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 data on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue was down 3.9% on a year-over-year basis. As a group, equities analysts forecast that Altice USA will post -0.01 earnings per share for the current year.

Insider Transactions at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction that occurred on 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 sale, the director now owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 12,078,411 shares of company stock valued at $295,921,070 over the last three months. Corporate insiders own 52.90% of the company’s stock.

Institutional Investors Weigh In On Altice USA

A number of institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position 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 during the last quarter. Quadrature Capital Ltd bought a new position in shares of Altice USA during the 3rd quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Altice USA during the second quarter valued at about $25,000. D.A. Davidson & CO. bought a new stake in shares of Altice USA in the third quarter worth about $32,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Altice USA in the third quarter worth about $39,000. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.