Altice USA (NYSE:ATUS) Stock Rating Lowered by New Street Research

Altice USA (NYSE:ATUSGet Rating) was downgraded by investment analysts at New Street Research from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat.com reports.

Several other research analysts have also recently issued reports on ATUS. Barclays dropped their target price on Altice USA from $12.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 29th. JPMorgan Chase & Co. decreased their price objective on Altice USA from $12.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. TD Securities decreased their price objective on Altice USA from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. Citigroup raised Altice USA from a “neutral” rating to a “buy” rating and decreased their target price for the company from $12.00 to $8.00 in a research note on Thursday, October 13th. Finally, Cowen reduced their price objective on Altice USA from $39.00 to $31.00 in a research note on Thursday, November 3rd. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Altice USA presently has an average rating of “Hold” and an average price target of $11.95.

Altice USA Price Performance

Shares of Altice USA stock traded down $0.36 during trading on Thursday, hitting $4.20. 257,851 shares of the company’s stock traded hands, compared to its average volume of 7,101,962. Altice USA has a 1 year low of $3.94 and a 1 year high of $17.30. The stock has a market capitalization of $1.91 billion, a P/E ratio of 2.99, a PEG ratio of 0.25 and a beta of 1.47. The business has a 50-day simple moving average of $5.51 and a 200-day simple moving average of $8.43.

Altice USA (NYSE:ATUSGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Altice USA had a net margin of 6.52% and a negative return on equity of 119.88%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share. On average, equities analysts predict that Altice USA will post 1.2 earnings per share for the current fiscal year.

Insider Activity at Altice USA

In related news, Director Charles Stewart sold 31,560 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $9.99, for a total value of $315,284.40. Following the completion of the sale, the director now owns 1,323,925 shares of the company’s stock, valued at $13,226,010.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 52.60% of the company’s stock.

Institutional Investors Weigh In On Altice USA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clarkston Capital Partners LLC increased its stake in Altice USA by 10.4% during the third quarter. Clarkston Capital Partners LLC now owns 34,640,405 shares of the company’s stock worth $201,954,000 after acquiring an additional 3,274,383 shares during the last quarter. Vanguard Group Inc. increased its stake in Altice USA by 11.7% during the first quarter. Vanguard Group Inc. now owns 22,253,606 shares of the company’s stock worth $277,725,000 after acquiring an additional 2,324,303 shares during the last quarter. BlackRock Inc. increased its stake in Altice USA by 1.6% during the first quarter. BlackRock Inc. now owns 16,302,827 shares of the company’s stock worth $203,460,000 after acquiring an additional 263,465 shares during the last quarter. TPG GP A LLC increased its stake in Altice USA by 2.8% during the second quarter. TPG GP A LLC now owns 8,282,378 shares of the company’s stock worth $76,612,000 after acquiring an additional 227,960 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Altice USA by 22.4% during the second quarter. Loomis Sayles & Co. L P now owns 8,175,220 shares of the company’s stock worth $75,620,000 after acquiring an additional 1,498,148 shares during the last quarter. Institutional investors and hedge funds own 56.28% of the company’s stock.

About Altice USA

(Get Rating)

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 approximately five million 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.

Further Reading

Analyst Recommendations for Altice USA (NYSE:ATUS)

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