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Several other analysts have also issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of Altice USA in a research report on Tuesday, October 15th. They set an outperform rating and a $38.00 target price for the company. Wells Fargo & Co initiated coverage on shares of Altice USA in a research report on Tuesday, August 27th. They set an outperform rating and a $35.00 target price for the company. TD Securities cut their target price on shares of Altice USA from $33.00 to $32.00 and set a hold rating for the company in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Altice USA from $28.00 to $31.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Finally, Benchmark boosted their target price on shares of Altice USA from $35.00 to $36.00 and gave the company a buy rating in a research report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Altice USA currently has an average rating of Buy and an average target price of $32.00.
NYSE ATUS traded down $0.18 during trading hours on Wednesday, hitting $26.23. 4,319,284 shares of the company’s stock traded hands, compared to its average volume of 5,242,426. The business’s fifty day moving average price is $29.17 and its two-hundred day moving average price is $26.50. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 9.18. The firm has a market capitalization of $20.31 billion, a P/E ratio of 327.88 and a beta of 0.92. Altice USA has a 52 week low of $15.15 and a 52 week high of $31.78.
Altice USA (NYSE:ATUS) last announced its earnings results on Tuesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.48 billion. Altice USA had a net margin of 3.61% and a return on equity of 15.68%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share. On average, sell-side analysts expect that Altice USA will post 0.57 EPS for the current fiscal year.
In other Altice USA news, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $27.03, for a total value of $810,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the completion of the transaction, the director now owns 47,369,305 shares of the company’s stock, valued at $1,250,549,652. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ATUS. Amundi Pioneer Asset Management Inc. bought a new position in shares of Altice USA in the first quarter worth approximately $2,255,000. Xact Kapitalforvaltning AB boosted its position in shares of Altice USA by 12.2% during the second quarter. Xact Kapitalforvaltning AB now owns 67,036 shares of the company’s stock worth $1,632,000 after acquiring an additional 7,284 shares during the last quarter. OLD National Bancorp IN bought a new position in shares of Altice USA during the second quarter worth $252,000. Oregon Public Employees Retirement Fund bought a new position in shares of Altice USA during the second quarter worth $609,000. Finally, Oakbrook Investments LLC bought a new position in shares of Altice USA during the second quarter worth $215,000. Institutional investors and hedge funds own 51.03% 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. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.
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