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

Altice USA (NYSE:ATUS) had its target price trimmed by TD Cowen from $6.00 to $3.50 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

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

Altice USA Price Performance

NYSE:ATUS opened at $2.63 on Tuesday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -7.11, a PEG ratio of 9.68 and a beta of 1.52. The business has a 50 day simple moving average of $2.31 and a 200-day simple moving average of $2.12. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.66.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm posted $0.15 earnings per share. Altice USA’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts expect that Altice USA will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the transaction, the director now owns 38,860,998 shares of the company’s stock, valued at approximately $952,094,451. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,026,135 shares of company stock valued at $98,640,308 in the last ninety days. Corporate insiders own 52.90% of the company’s stock.

Institutional Trading of Altice USA

A number of hedge funds have recently added to or reduced their stakes in the business. King Street Capital Management L.P. bought a new stake in shares of Altice USA in the 2nd quarter valued at about $5,100,000. LMR Partners LLP raised its stake 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 buying an additional 2,055,000 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in Altice USA during the second quarter worth $4,080,000. Susquehanna Fundamental Investments LLC bought a new stake in Altice USA during the 1st quarter valued at $1,914,000. Finally, Aristeia Capital L.L.C. purchased a new position in shares of Altice USA in the 2nd quarter valued at $657,000. 54.85% of the stock is 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.