Altice USA, Inc. (NYSE:ATUS) Receives $2.12 Consensus PT from Brokerages

Altice USA, Inc. (NYSE:ATUS) has been given an average recommendation of “Reduce” by the eleven analysts that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $2.12.

Several research analysts have weighed in on the stock. UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. TD Cowen cut 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 note on Tuesday, November 5th.

Altice USA Stock Performance

NYSE ATUS opened at $2.61 on Tuesday. Altice USA has a fifty-two week low of $1.52 and a fifty-two week high of $3.66. The firm has a market capitalization of $1.20 billion, a P/E ratio of -7.27, a price-to-earnings-growth ratio of 55.55 and a beta of 1.52. The stock’s fifty day moving average is $2.40 and its two-hundred day moving average is $2.15.

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). Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm posted $0.15 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Altice USA will post 0.01 EPS for the current year.

Insider Activity

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the sale, the director now directly owns 29,198,274 shares of the company’s stock, valued at approximately $715,357,713. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 5,636,589 shares of company stock valued at $138,096,431. Insiders own 52.90% of the company’s stock.

Hedge Funds Weigh In On Altice USA

Several institutional investors have recently bought and sold shares of ATUS. 140 Summer Partners LP acquired a new stake in shares of Altice USA in the third quarter valued at approximately $9,004,000. King Street Capital Management L.P. purchased a new stake in Altice USA during the 2nd quarter worth $5,100,000. LMR Partners LLP grew its position in Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock valued at $7,380,000 after acquiring an additional 2,055,000 shares in the last quarter. Empyrean Capital Partners LP purchased a new position in Altice USA in the 2nd quarter valued at about $4,080,000. Finally, Verition Fund Management LLC grew its position in shares of Altice USA by 579.7% during the third quarter. Verition Fund Management LLC now owns 624,983 shares of the company’s stock worth $1,537,000 after buying an additional 533,032 shares in the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

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.