Altice USA (NYSE:ATUS) had its target price reduced by equities research analysts at Loop Capital from $28.00 to $20.00 in a report released on Thursday, The Fly reports. The brokerage presently has a "hold" rating on the stock. Loop Capital's target price points to a potential upside of 1.37% from the company's previous close.
ATUS has been the topic of a number of other research reports. Raymond James downgraded shares of Altice USA from an "outperform" rating to a "market perform" rating in a research report on Monday. HSBC upgraded shares of Altice USA from a "hold" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Friday, August 6th. Evercore ISI dropped their target price on shares of Altice USA from $44.00 to $30.00 and set an "outperform" rating on the stock in a research report on Thursday. They noted that the move was a valuation call. Credit Suisse Group downgraded shares of Altice USA from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $46.00 to $24.00 in a research report on Monday. Finally, Zacks Investment Research downgraded shares of Altice USA from a "hold" rating to a "sell" rating and set a $21.00 target price on the stock. in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $34.15.
Shares of NYSE ATUS traded up $0.20 during mid-day trading on Thursday, reaching $19.73. 12,480 shares of the company were exchanged, compared to its average volume of 7,933,772. The company's 50-day simple moving average is $27.89 and its 200-day simple moving average is $32.32. The stock has a market capitalization of $9.02 billion, a P/E ratio of 12.33 and a beta of 1.08. Altice USA has a twelve month low of $19.00 and a twelve month high of $38.30.
Altice USA (NYSE:ATUS) last posted its earnings results on Tuesday, July 27th. The company reported $0.51 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.47 by $0.04. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. Altice USA had a net margin of 8.00% and a negative return on equity of 129.77%. As a group, analysts expect that Altice USA will post 2.07 earnings per share for the current fiscal year.
In related news, EVP Michael Olsen sold 3,000 shares of the firm's stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $27.58, for a total value of $82,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 53.10% of the company's stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. purchased a new position in Altice USA in the 1st quarter worth approximately $2,255,000. Envestnet Asset Management Inc. grew its position in Altice USA by 40.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 29,794 shares of the company's stock valued at $969,000 after acquiring an additional 8,600 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in Altice USA in the 1st quarter valued at $563,000. HighTower Advisors LLC bought a new position in Altice USA in the 1st quarter valued at $236,000. Finally, Forsta AP Fonden bought a new position in Altice USA in the 1st quarter valued at $4,004,000. Institutional investors own 54.85% of the company's stock.
About Altice USA
Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Lightpath, AMS, News 12 Networks, and News 12 Varsity. The firm operates through the Cablevision and Cequel business operations.
Further Reading: Liquidity
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