Analysts Set Altice USA, Inc. (NYSE:ATUS) Target Price at $2.30

Altice USA, Inc. (NYSE:ATUS) has been given an average recommendation of “Reduce” by the eleven research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $2.30.

Several equities research analysts recently issued reports on ATUS shares. TD Cowen dropped their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Citigroup increased their target price on shares of Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Altice USA Price Performance

Shares of ATUS stock opened at $2.45 on Wednesday. The firm has a fifty day moving average of $2.53 and a two-hundred day moving average of $2.21. The firm has a market cap of $1.13 billion, a P/E ratio of -6.62 and a beta of 1.50. Altice USA has a 1-year low of $1.52 and a 1-year high of $3.19.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts expect that Altice USA will post -0.01 EPS for the current year.

Insider Buying and Selling

In other news, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the completion of the transaction, the director now directly owns 14,704,182 shares in the company, valued at approximately $360,252,459. The trade was a 5.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 15,299,331 shares of company stock valued at $374,833,610 in the last quarter. Company insiders own 52.90% of the company’s stock.

Institutional Trading of Altice USA

Hedge funds have recently added to or reduced their stakes in the business. Aristeia Capital L.L.C. acquired a new position in shares of Altice USA during the second quarter valued at $657,000. Wolverine Trading LLC acquired a new position in Altice USA during the 3rd quarter valued at about $39,000. King Street Capital Management L.P. acquired a new position in Altice USA during the 2nd quarter valued at about $5,100,000. Point72 Asset Management L.P. raised its position in shares of Altice USA by 487.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,985 shares of the company’s stock worth $2,167,000 after buying an additional 730,985 shares in the last quarter. Finally, Algert Global LLC lifted its stake in shares of Altice USA by 101.3% in the 3rd quarter. Algert Global LLC now owns 639,005 shares of the company’s stock worth $1,572,000 after acquiring an additional 321,618 shares during the period. Institutional investors 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.