Altice USA (NYSE:ATUS) Stock Price Expected to Rise, Citigroup Analyst Says

Altice USA (NYSE:ATUS) had its target price upped by equities researchers at Citigroup from $2.50 to $3.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 14.50% from the company’s previous close.

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

Altice USA Trading Up 1.6 %

Shares of ATUS opened at $2.62 on Wednesday. The stock has a market cap of $1.21 billion, a PE ratio of -7.08 and a beta of 1.53. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.66. The stock has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $2.20.

Altice USA (NYSE:ATUS) last issued its earnings results on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, sell-side analysts forecast that Altice USA will post -0.01 EPS for the current fiscal year.

Insider Transactions at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction 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 filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 12,078,411 shares of company stock worth $295,921,070. 52.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altice USA

Hedge funds have recently modified their holdings of the business. US Bancorp DE increased its holdings in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after purchasing an additional 5,000 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Altice USA in the 3rd quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA in the 2nd quarter valued at approximately $25,000. D.A. Davidson & CO. bought a new position in shares of Altice USA during the 3rd quarter worth approximately $32,000. Finally, Wolverine Trading LLC bought a new stake in shares of Altice USA in the third quarter worth $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.