Altice USA, Inc. (NYSE:ATUS) Receives $2.41 Average PT from Analysts

Shares of Altice USA, Inc. (NYSE:ATUS) have earned an average rating of “Reduce” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $2.41.

ATUS has been the topic of several analyst reports. TD Cowen lowered their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Citigroup lifted their target price on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Raymond James upgraded Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a research note on Tuesday, February 18th.

Insiders Place Their Bets

In other news, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $24.50, for a total value of $19,728,135.00. Following the completion of the transaction, the director now directly owns 6,651,882 shares of the company’s stock, valued at $162,971,109. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 7,247,061 shares of company stock worth $177,552,995. 52.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Altice USA

A number of institutional investors have recently made changes to their positions in ATUS. LPL Financial LLC acquired a new position in shares of Altice USA in the fourth quarter worth $25,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA in the third quarter worth $27,000. Raymond James Financial Inc. acquired a new position in shares of Altice USA in the fourth quarter worth $30,000. D.A. Davidson & CO. acquired a new position in shares of Altice USA in the third quarter worth $32,000. Finally, Wolverine Trading LLC acquired a new position in shares of Altice USA in the third quarter worth $39,000. 54.85% of the stock is owned by institutional investors and hedge funds.

Altice USA Stock Up 2.7 %

ATUS opened at $2.84 on Thursday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -12.33 and a beta of 1.52. Altice USA has a 52 week low of $1.52 and a 52 week high of $3.20. The business’s 50 day moving average is $2.68 and its two-hundred day moving average is $2.43.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). Equities analysts expect that Altice USA will post -0.24 EPS for the current fiscal year.

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.