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

Shares of Altice USA, Inc. (NYSE:ATUS - Get Free Report) have been given an average rating of "Reduce" by the ten research firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $2.22.

Separately, TD Cowen dropped their price target 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 Trading Up 0.8 %

NYSE:ATUS traded up $0.02 during mid-day trading on Friday, reaching $2.58. The company's stock had a trading volume of 4,866,752 shares, compared to its average volume of 3,388,103. The stock has a market cap of $1.19 billion, a P/E ratio of -6.97 and a beta of 1.53. The firm's fifty day moving average price is $2.50 and its two-hundred day moving average price is $2.20. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.66.

Altice USA (NYSE:ATUS - Get Free Report) 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 company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative net margin of 1.85% and a negative return on equity of 1.54%. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. Analysts predict that Altice USA will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the completion of the transaction, the director now owns 38,055,771 shares in the company, valued at approximately $932,366,389.50. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 10,467,951 shares of company stock valued at $256,464,800. Company insiders own 52.90% of the company's stock.

Institutional Trading of Altice USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC bought a new position in shares of Altice USA during the 2nd quarter valued at approximately $25,000. Quadrature Capital Ltd purchased a new stake in Altice USA during the third quarter valued at $27,000. D.A. Davidson & CO. purchased a new stake in Altice USA during the third quarter valued at $32,000. Wolverine Trading LLC bought a new position in Altice USA during the third quarter valued at $39,000. Finally, US Bancorp DE grew its stake in shares of Altice USA by 30.2% in the 3rd quarter. US Bancorp DE now owns 21,530 shares of the company's stock worth $53,000 after buying an additional 5,000 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors.

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.