Altice USA (NYSE:ATUS) Stock Price Expected to Rise, Citigroup Analyst Says

Altice USA (NYSE:ATUS) had its price target hoisted by analysts at Citigroup from $2.50 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 16.73% from the company’s previous close.

Separately, TD Cowen lowered their price target on shares of Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.30.

Altice USA Trading Up 7.1 %

Shares of Altice USA stock traded up $0.17 during trading hours on Wednesday, hitting $2.57. 1,506,299 shares of the company were exchanged, compared to its average volume of 3,503,340. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -6.95 and a beta of 1.53. The business has a 50-day moving average of $2.50 and a 200-day moving average of $2.20. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.66.

Altice USA (NYSE:ATUS) last posted its quarterly 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 firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 1.85%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 earnings per share. As a group, research analysts anticipate that Altice USA will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction on Monday, October 28th. The shares were sold at an average price of $24.50, for a total value of $19,728,061.50. Following the transaction, the director now owns 38,055,771 shares in the company, valued at $932,366,389.50. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 11,273,181 shares of company stock worth $276,192,935 over the last three months. Corporate insiders own 52.90% of the company’s stock.

Institutional Trading of Altice USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATUS. Quadrature Capital Ltd acquired a new stake in Altice USA in the 3rd quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA during the second quarter worth about $25,000. D.A. Davidson & CO. acquired a new position in shares of Altice USA during the 3rd quarter worth about $32,000. Wolverine Trading LLC acquired a new stake in shares of Altice USA in the 3rd quarter valued at approximately $39,000. Finally, US Bancorp DE boosted its stake in Altice USA by 30.2% during the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company’s stock worth $53,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

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.