Altice USA, Inc. (NYSE:ATUS) Receives Average Recommendation of “Reduce” from Analysts

Shares of Altice USA, Inc. (NYSE:ATUS) have earned a consensus recommendation of “Reduce” from the eleven brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $2.30.

Several research firms have weighed in on ATUS. Citigroup lifted their target price on Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. TD Cowen cut their target price on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.47 on Wednesday. The firm has a market cap of $1.14 billion, a P/E ratio of -6.68 and a beta of 1.50. The firm’s 50 day moving average price is $2.53 and its 200-day moving average price is $2.22. Altice USA has a one year low of $1.52 and a one year high of $3.19.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. As a group, research analysts predict that Altice USA will post -0.01 EPS for the current fiscal year.

Insider Transactions at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,230 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the sale, the director now owns 14,704,182 shares of the company’s stock, valued at approximately $360,252,459. This trade represents a 5.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 15,299,331 shares of company stock valued at $374,833,610. Insiders own 52.90% of the company’s stock.

Hedge Funds Weigh In On Altice USA

Several hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of Altice USA by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock valued at $11,566,000 after buying an additional 24,501 shares in the last quarter. Cerberus Capital Management L.P. boosted its stake in Altice USA by 6.8% in the third quarter. Cerberus Capital Management L.P. now owns 3,940,785 shares of the company’s stock valued at $9,694,000 after acquiring an additional 250,000 shares in the last quarter. 140 Summer Partners LP purchased a new position in shares of Altice USA during the third quarter worth about $9,004,000. LMR Partners LLP increased its position in shares of Altice USA by 217.5% during the third quarter. LMR Partners LLP now owns 3,000,000 shares of the company’s stock worth $7,380,000 after purchasing an additional 2,055,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Altice USA by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,682,757 shares of the company’s stock valued at $6,602,000 after purchasing an additional 191,508 shares during the last quarter. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.