Altice USA, Inc. (NYSE:ATUS) Receives $2.41 Average Target Price from Analysts

Altice USA, Inc. (NYSE:ATUS) has been assigned an average recommendation of “Reduce” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Five research 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 covered the stock in the last year is $2.15.

ATUS has been the topic of several research reports. Raymond James raised shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 price target on the stock in a research report on Tuesday, February 18th. Citigroup increased their price target on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Altice USA Stock Performance

Shares of ATUS opened at $2.56 on Monday. The stock has a market capitalization of $1.18 billion, a PE ratio of -11.11 and a beta of 1.58. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.20. The company’s 50-day simple moving average is $2.72 and its 200-day simple moving average is $2.53.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results 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). On average, sell-side analysts predict that Altice USA will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,230 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $24.50, for a total value of $19,728,135.00. Following the transaction, the director now directly owns 6,651,882 shares in the company, valued at $162,971,109. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 52.90% of the company’s stock.

Hedge Funds Weigh In On Altice USA

Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new position in Altice USA in the fourth quarter valued at approximately $25,000. Quadrature Capital Ltd purchased a new position in Altice USA in the third quarter valued at approximately $27,000. Raymond James Financial Inc. purchased a new position in Altice USA in the fourth quarter valued at approximately $30,000. D.A. Davidson & CO. purchased a new position in Altice USA in the third quarter valued at approximately $32,000. Finally, Wolverine Trading LLC purchased a new position in Altice USA in the third quarter valued at approximately $39,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.