Atlantic Securities downgraded shares of Altice USA (NYSE:ATUS) from an overweight rating to a neutral rating in a report published on Wednesday morning, The Fly reports.
Several other research analysts have also weighed in on the stock. KeyCorp boosted their price objective on shares of Altice USA from $25.00 to $31.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Sanford C. Bernstein began coverage on shares of Altice USA in a research note on Tuesday, October 15th. They set an outperform rating and a $38.00 price objective on the stock. Pivotal Research restated a buy rating and set a $40.00 price objective on shares of Altice USA in a research note on Friday, October 11th. Citigroup boosted their price objective on shares of Altice USA from $32.00 to $37.00 and gave the stock a buy rating in a research note on Friday, October 4th. Finally, Benchmark boosted their price objective on shares of Altice USA from $35.00 to $36.00 and gave the stock a buy rating in a research note on Thursday, September 19th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $32.00.
ATUS stock traded down $0.18 during midday trading on Wednesday, hitting $26.23. The company’s stock had a trading volume of 4,319,284 shares, compared to its average volume of 5,242,426. The company has a debt-to-equity ratio of 9.18, a current ratio of 0.29 and a quick ratio of 0.29. Altice USA has a twelve month low of $15.15 and a twelve month high of $31.78. The company’s fifty day moving average price is $29.17 and its 200 day moving average price is $26.50. The stock has a market capitalization of $20.31 billion, a P/E ratio of 327.88 and a beta of 0.92.
Altice USA (NYSE:ATUS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.48 billion. Altice USA had a net margin of 3.61% and a return on equity of 15.68%. Altice USA’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 EPS. Equities analysts expect that Altice USA will post 0.57 EPS for the current fiscal year.
In related news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $26.40, for a total value of $396,000,000.00. Following the transaction, the director now owns 47,369,305 shares in the company, valued at approximately $1,250,549,652. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $27.03, for a total transaction of $810,900.00. The disclosure for this sale can be found here. 45.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in Altice USA by 60.2% in the 2nd quarter. First Trust Advisors LP now owns 1,438,312 shares of the company’s stock valued at $35,023,000 after buying an additional 540,256 shares during the last quarter. Prudential Financial Inc. bought a new stake in Altice USA in the 2nd quarter valued at about $252,000. Boston Partners bought a new stake in Altice USA in the 2nd quarter valued at about $242,954,000. Janus Henderson Group PLC boosted its holdings in Altice USA by 170.2% in the 2nd quarter. Janus Henderson Group PLC now owns 656,798 shares of the company’s stock valued at $15,994,000 after purchasing an additional 413,714 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in Altice USA by 11.2% in the 2nd quarter. Verition Fund Management LLC now owns 21,161 shares of the company’s stock valued at $515,000 after purchasing an additional 2,137 shares during the period. Institutional investors and hedge funds own 51.03% 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. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.
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