Altice USA, Inc. (NYSE:ATUS) Receives $2.30 Consensus Price Target from Analysts

Shares of Altice USA, Inc. (NYSE:ATUSGet Free Report) have received a consensus recommendation of “Reduce” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.30.

Several analysts have recently commented on the stock. Citigroup raised their target price on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen lowered their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Get Our Latest Stock Analysis on Altice USA

Altice USA Stock Down 0.5 %

NYSE ATUS opened at $2.92 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of -7.88 and a beta of 1.50. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.18. The business’s 50-day moving average price is $2.56 and its 200 day moving average price is $2.29.

Altice USA (NYSE:ATUSGet Free Report) last released 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 firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts anticipate that Altice USA will post -0.06 earnings per share for the current year.

Insider Activity

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction on Monday, November 4th. 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 transaction, the director now owns 34,029,636 shares of the company’s stock, valued at $833,726,082. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 12,883,650 shares of company stock worth $315,649,425. Company insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Altice USA during the second quarter valued at $25,000. XTX Topco Ltd raised its position in shares of Altice USA by 112.1% in the second quarter. XTX Topco Ltd now owns 81,314 shares of the company’s stock valued at $166,000 after buying an additional 42,975 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Altice USA during the second quarter valued at approximately $183,000. Mackenzie Financial Corp acquired a new stake in Altice USA during the second quarter worth approximately $81,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Altice USA by 80.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 62,285 shares of the company’s stock worth $127,000 after acquiring an additional 27,725 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

Altice USA Company Profile

(Get Free Report

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.

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