Altice USA, Inc. (NYSE:ATUS) Given Consensus Rating of “Reduce” by Brokerages

Altice USA, Inc. (NYSE:ATUS) has received an average rating of “Reduce” from the ten brokerages that are covering the company, MarketBeat.com reports. Five 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 objective among brokers that have updated their coverage on the stock in the last year is $2.22.

ATUS has been the subject of several research reports. TD Cowen dropped their target price on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and reduced their price target for the company from $4.00 to $2.00 in a research report on Friday, August 2nd.

Altice USA Price Performance

NYSE ATUS opened at $2.47 on Tuesday. Altice USA has a 12 month low of $1.52 and a 12 month high of $3.66. The stock has a market capitalization of $1.14 billion, a P/E ratio of -6.66, a PEG ratio of 53.16 and a beta of 1.52. The firm’s 50-day moving average is $2.41 and its two-hundred day moving average is $2.16.

Altice USA (NYSE:ATUS) last announced its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that Altice USA will post 0.01 EPS for the current year.

Insider Transactions 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 on Friday, October 25th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the sale, the director now owns 38,860,998 shares in the company, valued at approximately $952,094,451. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 6,441,816 shares of company stock worth $157,824,492. Company insiders own 52.90% of the company’s stock.

Hedge Funds Weigh In On Altice USA

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC raised its position in Altice USA by 45.2% in the first quarter. SG Americas Securities LLC now owns 58,098 shares of the company’s stock worth $152,000 after acquiring an additional 18,080 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Altice USA in the first quarter valued at about $46,000. State Board of Administration of Florida Retirement System purchased a new stake in Altice USA during the first quarter worth about $687,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Altice USA by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock valued at $1,193,000 after buying an additional 53,158 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in shares of Altice USA during the 1st quarter worth approximately $65,000. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.