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

Altice USA, Inc. (NYSE:ATUS) has earned an average recommendation of “Reduce” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $2.30.

Several analysts have commented on ATUS shares. Citigroup lifted their price target on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen decreased their target price on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th.

Altice USA Stock Performance

Shares of ATUS opened at $2.41 on Wednesday. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.29. The company’s 50 day simple moving average is $2.53 and its 200 day simple moving average is $2.21. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.51 and a beta of 1.53.

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

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now owns 38,860,998 shares in the company, valued at $952,094,451. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 15,299,331 shares of company stock valued at $374,833,610 over the last ninety days. Corporate insiders own 52.90% of the company’s stock.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Altice USA by 1,617.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,902,834 shares of the company’s stock valued at $4,681,000 after purchasing an additional 1,792,054 shares in the last quarter. Geode Capital Management LLC boosted its position in Altice USA by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock valued at $6,602,000 after buying an additional 191,508 shares during the last quarter. Barclays PLC grew its stake in shares of Altice USA by 120.3% during the third quarter. Barclays PLC now owns 1,527,424 shares of the company’s stock valued at $3,756,000 after acquiring an additional 834,030 shares in the last quarter. XTX Topco Ltd increased its position in shares of Altice USA by 476.7% during the third 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 last quarter. Finally, Wolverine Trading LLC acquired a new position in shares of Altice USA in the third quarter worth about $39,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

About Altice USA

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.