Altice USA, Inc. (NYSE:ATUS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Altice USA, Inc. (NYSE:ATUS) have been assigned an average rating of “Reduce” from the eleven analysts that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $2.30.

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

Insiders Place Their Bets

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 Wednesday, October 30th. The stock was 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 36,445,317 shares in the company, valued at $892,910,266.50. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 14,494,104 shares of company stock valued at $355,105,548 over the last 90 days. 52.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Altice USA

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Altice USA by 1,617.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,902,834 shares of the company’s stock valued at $4,681,000 after acquiring an additional 1,792,054 shares during the period. Geode Capital Management LLC boosted its stake in shares of Altice USA by 7.7% in the third quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock valued at $6,602,000 after purchasing an additional 191,508 shares during the period. Barclays PLC grew its holdings in shares of Altice USA by 120.3% in the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock valued at $3,756,000 after purchasing an additional 834,030 shares in the last quarter. XTX Topco Ltd increased its stake in Altice USA by 476.7% during the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company’s stock worth $1,154,000 after buying an additional 387,655 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in Altice USA during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Stock Performance

NYSE ATUS opened at $3.11 on Friday. The business has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.28. The company has a market cap of $1.43 billion, a P/E ratio of -8.39 and a beta of 1.50. Altice USA has a one year low of $1.52 and a one year high of $3.18.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share 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 analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Altice USA will post -0.06 EPS for the current fiscal year.

Altice USA Company Profile

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.