Altice USA, Inc. (NYSE:ATUS) Given Average Recommendation of “Reduce” by Analysts

Shares of Altice USA, Inc. (NYSE:ATUS) have earned a consensus rating of “Reduce” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $2.22.

Separately, TD Cowen dropped their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Altice USA Stock Performance

Shares of Altice USA stock opened at $2.57 on Friday. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.66. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -6.93 and a beta of 1.53. The company has a fifty day moving average of $2.50 and a 200-day moving average of $2.20.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. On average, equities research analysts forecast that Altice USA will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were 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 $932,366,389.50. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 10,467,951 shares of company stock valued at $256,464,800. 52.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Altice USA

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Altice USA by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock worth $6,602,000 after acquiring an additional 191,508 shares during the period. Barclays PLC raised its stake in Altice USA by 120.3% during the 3rd quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock worth $3,756,000 after acquiring an additional 834,030 shares during the period. XTX Topco Ltd raised its stake in Altice USA by 476.7% during the 3rd quarter. XTX Topco Ltd now owns 468,969 shares of the company’s stock worth $1,154,000 after acquiring an additional 387,655 shares during the period. Wolverine Trading LLC bought a new stake in Altice USA during the 3rd quarter worth approximately $39,000. Finally, State Street Corp raised its position in shares of Altice USA by 2.8% during the third quarter. State Street Corp now owns 1,534,608 shares of the company’s stock valued at $3,775,000 after buying an additional 41,868 shares during the last quarter. Hedge funds and other 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.