TD Cowen Cuts Altice USA (NYSE:ATUS) Price Target to $3.50

Altice USA (NYSE:ATUS - Get Free Report) had its target price dropped by equities researchers at TD Cowen from $6.00 to $3.50 in a report issued on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 37.52% from the company's previous close.

Separately, UBS Group downgraded shares of Altice USA from a "buy" rating to a "neutral" rating and cut their price objective for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $2.12.

Altice USA Stock Down 1.7 %

Shares of ATUS stock traded down $0.04 during mid-day trading on Tuesday, hitting $2.55. 7,237,235 shares of the stock were exchanged, compared to its average volume of 3,471,430. The firm has a fifty day moving average of $2.30 and a 200 day moving average of $2.12. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.66. The company has a market cap of $1.17 billion, a PE ratio of -6.88, a price-to-earnings-growth ratio of 9.87 and a beta of 1.52.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly 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 analysts' expectations of $2.24 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The company's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. Equities analysts predict that Altice USA will post 0.1 EPS for the current year.

Insider Buying and Selling at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of Altice USA stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the completion of the transaction, the director now directly owns 38,055,771 shares of the company's stock, valued at $932,366,389.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 4,026,135 shares of company stock valued at $98,640,308 in the last three months. 52.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently made changes to their positions in ATUS. US Bancorp DE lifted its stake in Altice USA by 30.2% during the third quarter. US Bancorp DE now owns 21,530 shares of the company's stock worth $53,000 after purchasing an additional 5,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Altice USA during the second quarter worth approximately $25,000. Headlands Technologies LLC purchased a new stake in Altice USA during the first quarter worth approximately $46,000. SG Americas Securities LLC lifted its stake in Altice USA by 45.2% during the first quarter. SG Americas Securities LLC now owns 58,098 shares of the company's stock worth $152,000 after purchasing an additional 18,080 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Altice USA by 102.2% during the third quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company's stock worth $89,000 after purchasing an additional 18,200 shares during the last quarter. 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.