Atlantic Securities lowered shares of Altice USA (NYSE:ATUS) from an overweight rating to a neutral rating in a research note released on Wednesday morning, The Fly reports.
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Other equities analysts also recently issued reports about the company. UBS Group set a $30.00 price objective on Altice USA and gave the stock a buy rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on Altice USA from $28.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Wells Fargo & Co started coverage on Altice USA in a research report on Tuesday, August 27th. They set an outperform rating and a $35.00 price objective for the company. Citigroup boosted their price objective on Altice USA from $32.00 to $37.00 and gave the stock a buy rating in a research report on Friday, October 4th. Finally, KeyCorp boosted their price objective on Altice USA from $25.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $32.00.
NYSE:ATUS traded down $0.18 on Wednesday, reaching $26.23. 4,319,284 shares of the company’s stock were exchanged, compared to its average volume of 5,242,426. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 9.18. The firm has a market capitalization of $20.31 billion, a price-to-earnings ratio of 327.88 and a beta of 0.92. The business has a fifty day moving average of $29.17 and a 200-day moving average of $26.50. Altice USA has a 52-week low of $15.15 and a 52-week high of $31.78.
Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. Altice USA had a return on equity of 15.68% and a net margin of 3.61%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the company posted $0.04 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Altice USA will post 0.57 earnings per share for the current year.
In related news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $26.40, for a total value of $396,000,000.00. Following the completion of the transaction, the director now directly owns 47,369,305 shares of the company’s stock, valued at $1,250,549,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $27.03, for a total value of $810,900.00. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ATUS. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Altice USA in the second quarter valued at approximately $41,000. Advisor Group Inc. boosted its holdings in Altice USA by 26.6% in the second quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock valued at $111,000 after purchasing an additional 945 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Altice USA by 33.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,000 shares of the company’s stock valued at $146,000 after purchasing an additional 1,500 shares in the last quarter. NEXT Financial Group Inc acquired a new position in Altice USA in the third quarter valued at approximately $147,000. Finally, Whitnell & Co. acquired a new position in Altice USA in the third quarter valued at approximately $149,000. 51.03% of the stock is owned by hedge funds and other institutional investors.
Altice USA Company Profile
Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.
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