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

Altice USA, Inc. (NYSE:ATUS) has earned an average rating of “Reduce” from the eleven analysts that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $2.30.

A number of brokerages recently issued reports on ATUS. Citigroup boosted 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 reduced 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.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction on Friday, November 8th. 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 transaction, the director now owns 30,808,728 shares of the company’s stock, valued at approximately $754,813,836. This trade represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 12,078,423 shares of company stock worth $295,921,364 over the last ninety days. 52.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Wolverine Trading LLC purchased a new stake in Altice USA in the third quarter worth about $39,000. Point72 Asset Management L.P. grew its stake in shares of Altice USA by 487.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,985 shares of the company’s stock worth $2,167,000 after buying an additional 730,985 shares during the last quarter. Algert Global LLC increased its position in Altice USA by 101.3% during the 3rd quarter. Algert Global LLC now owns 639,005 shares of the company’s stock valued at $1,572,000 after buying an additional 321,618 shares in the last quarter. Barclays PLC raised its stake in 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 buying an additional 834,030 shares during the last quarter. Finally, LMR Partners LLP boosted its holdings in Altice USA by 217.5% in the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after acquiring an additional 2,055,000 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors.

Altice USA Stock Performance

Shares of Altice USA stock opened at $2.85 on Friday. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.18. The company’s 50 day moving average price is $2.58 and its 200-day moving average price is $2.30. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.69 and a beta of 1.50.

Altice USA (NYSE:ATUS) last announced its quarterly 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). The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 earnings per share. As a group, equities research analysts forecast that Altice USA will post -0.06 earnings per share for the current fiscal year.

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.