Altice USA (ATUS) Price Target Raised to $23.00

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Altice USA (NYSE:ATUS) had its target price raised by Credit Suisse Group from $21.00 to $23.00 in a research note published on Tuesday. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also weighed in on ATUS. Guggenheim raised shares of Altice USA from a neutral rating to a buy rating in a research note on Monday, July 9th. They noted that the move was a valuation call. Barclays reaffirmed a buy rating and set a $25.00 target price on shares of Altice USA in a research note on Sunday, August 5th. Royal Bank of Canada lowered their target price on shares of Altice USA to $25.00 and set an outperform rating for the company in a research note on Thursday, August 9th. TD Securities lowered their target price on shares of Altice USA from $24.00 to $23.00 and set a buy rating for the company in a research note on Tuesday, August 14th. Finally, Citigroup lowered their target price on shares of Altice USA from $30.00 to $28.00 and set a buy rating for the company in a research note on Thursday, August 16th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Altice USA currently has a consensus rating of Buy and an average target price of $24.67.

ATUS stock traded down $0.56 during mid-day trading on Tuesday, hitting $18.47. 10,398,759 shares of the company were exchanged, compared to its average volume of 5,420,599. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $13.89 billion, a PE ratio of 923.50 and a beta of 0.74. Altice USA has a 12-month low of $14.49 and a 12-month high of $25.15.

Altice USA (NYSE:ATUS) last announced its earnings results on Monday, November 5th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.40 billion. Altice USA had a net margin of 21.73% and a negative return on equity of 3.14%. Altice USA’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.25) earnings per share. Sell-side analysts anticipate that Altice USA will post -0.12 EPS for the current fiscal year.

In other news, SVP Victoria Mink sold 37,502 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $18.99, for a total transaction of $712,162.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David Connolly sold 129,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $18.31, for a total transaction of $2,361,990.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Altice USA in the second quarter valued at approximately $104,000. Robeco Institutional Asset Management B.V. acquired a new stake in Altice USA in the second quarter valued at approximately $140,000. Cerebellum GP LLC acquired a new stake in Altice USA in the third quarter valued at approximately $182,000. Zeke Capital Advisors LLC acquired a new stake in Altice USA in the second quarter valued at approximately $177,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Altice USA in the second quarter valued at approximately $178,000. 37.18% 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. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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Analyst Recommendations for Altice USA (NYSE:ATUS)

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