Altice USA (NYSE:ATUS) Price Target Lowered to $3.50 at TD Cowen

Altice USA (NYSE:ATUS) had its price target reduced by TD Cowen from $6.00 to $3.50 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Separately, UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their target price for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Altice USA currently has an average rating of “Hold” and a consensus target price of $2.12.

Altice USA Price Performance

Shares of NYSE:ATUS opened at $2.55 on Tuesday. The business’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $2.12. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.66. The company has a market capitalization of $1.17 billion, a P/E ratio of -6.88, a P/E/G ratio of 9.87 and a beta of 1.52.

Altice USA (NYSE:ATUS) last released its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.13). The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. On average, sell-side analysts anticipate that Altice USA will post 0.1 EPS for the current fiscal year.

Insider Activity at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction on Monday, October 28th. The shares were 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 directly owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,026,135 shares of company stock valued at $98,640,308 in the last quarter. Insiders own 52.90% of the company’s stock.

Institutional Trading of Altice USA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in Altice USA in the 1st quarter valued at approximately $46,000. US Bancorp DE raised its stake in shares of Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company’s stock valued at $53,000 after acquiring an additional 5,000 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of Altice USA during the first quarter worth $65,000. Finally, Swedbank AB bought a new stake in shares of Altice USA in the first quarter worth $66,000. 54.85% of the stock is currently owned by 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.