Altice USA, Inc. (NYSE:ATUS) Receives Average Rating of “Reduce” from Analysts

Altice USA, Inc. (NYSE:ATUS) has earned an average rating of “Reduce” from the twelve brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2.41.

Several research firms recently issued reports on ATUS. Citigroup boosted their price objective on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen cut their price target 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. Finally, Raymond James upgraded shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a report on Tuesday, February 18th.

Altice USA Stock Performance

Shares of Altice USA stock opened at $2.90 on Thursday. The stock has a 50 day moving average of $2.69 and a 200 day moving average of $2.44. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -12.61 and a beta of 1.52. Altice USA has a fifty-two week low of $1.52 and a fifty-two week high of $3.20.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). Analysts forecast that Altice USA will post -0.24 EPS 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 on Friday, November 29th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now directly owns 19,535,550 shares in the company, valued at $478,620,975. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 7,247,061 shares of company stock valued at $177,552,995. Corporate 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 the stock. LPL Financial LLC purchased a new stake in shares of Altice USA in the 4th quarter valued at about $25,000. Quadrature Capital Ltd acquired a new position in Altice USA during the third quarter worth approximately $27,000. Raymond James Financial Inc. purchased a new stake in Altice USA in the fourth quarter valued at approximately $30,000. D.A. Davidson & CO. acquired a new stake in shares of Altice USA in the third quarter valued at approximately $32,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Altice USA in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.