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

Shares of Altice USA, Inc. (NYSE:ATUS - Get Free Report) have been given an average recommendation of "Reduce" by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $2.30.

ATUS has been the topic of several recent research reports. Citigroup raised their price target on Altice USA from $2.50 to $3.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. TD Cowen decreased their target price 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.

Insiders Place Their Bets

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm's stock in a transaction that occurred on Friday, November 8th. 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 sale, the director now owns 30,808,728 shares of the company's stock, valued at $754,813,836. This trade represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 12,078,423 shares of company stock worth $295,921,364. 52.90% of the stock is currently owned by company insiders.

Institutional Trading of Altice USA

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

Altice USA Trading Down 1.7 %

Shares of Altice USA stock traded down $0.05 on Friday, hitting $2.81. 2,131,866 shares of the company traded hands, compared to its average volume of 2,811,665. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.18. The firm's 50-day simple moving average is $2.59 and its 200 day simple moving average is $2.31. The company has a market cap of $1.30 billion, a P/E ratio of -7.59 and a beta of 1.50.

Altice USA (NYSE:ATUS - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA's revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. Analysts predict that Altice USA will post -0.06 earnings per share for the current year.

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.