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

Altice USA, Inc. (NYSE:ATUS - Get Free Report) has received an average recommendation of "Reduce" from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $2.15.

A number of equities analysts have recently commented on the company. Raymond James raised Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price target for the company in a report on Tuesday, February 18th. Citigroup boosted their price objective on Altice USA from $2.50 to $3.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th.

Altice USA Trading Up 2.9 %

NYSE ATUS traded up $0.08 during midday trading on Monday, hitting $2.65. The company had a trading volume of 720,703 shares, compared to its average volume of 3,022,655. The company has a market capitalization of $1.23 billion, a PE ratio of -11.53 and a beta of 1.58. The firm has a 50-day moving average price of $2.72 and a 200-day moving average price of $2.53. Altice USA has a twelve month low of $1.52 and a twelve month high of $3.20.

Altice USA (NYSE:ATUS - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). On average, equities analysts anticipate that Altice USA will post -0.24 EPS for the current year.

Remove Ads

Insider Buying and Selling

In related news, Director Alt S.A.R.L. Next sold 805,230 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $24.50, for a total value of $19,728,135.00. Following the sale, the director now owns 6,651,882 shares in the company, valued at approximately $162,971,109. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 52.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altice USA

A number of large investors have recently added to or reduced their stakes in ATUS. LPL Financial LLC purchased a new stake in Altice USA during the fourth quarter valued at about $25,000. Quadrature Capital Ltd purchased a new stake in Altice USA during the third quarter valued at about $27,000. Raymond James Financial Inc. purchased a new stake in Altice USA during the fourth quarter valued at about $30,000. D.A. Davidson & CO. purchased a new position in shares of Altice USA in the third quarter worth about $32,000. Finally, Wolverine Trading LLC purchased a new position in shares of Altice USA in the third quarter worth about $39,000. Hedge funds and other institutional investors own 54.85% of the company's stock.

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.