Altice USA (NYSE:ATUS) Given New $3.50 Price Target at TD Cowen

Altice USA (NYSE:ATUS) had its target price cut by equities researchers at TD Cowen from $6.00 to $3.50 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 35.66% from the company’s previous close.

Separately, UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and cut their target price 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.12.

Altice USA Price Performance

Shares of Altice USA stock traded down $0.01 during trading on Tuesday, hitting $2.58. 5,196,786 shares of the stock were exchanged, compared to its average volume of 3,461,895. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -20.00, a price-to-earnings-growth ratio of 9.87 and a beta of 1.52. The firm’s 50-day moving average price is $2.29 and its 200 day moving average price is $2.12. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.66.

Altice USA (NYSE:ATUS) last posted its earnings results on Monday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. Altice USA’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. As a group, research analysts forecast that Altice USA will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,227 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 38,055,771 shares of the company’s stock, valued at approximately $932,366,389.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 3,220,908 shares of company stock worth $78,912,246. 52.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently made changes to their positions in ATUS. GSA Capital Partners LLP acquired a new stake in shares of Altice USA in the third quarter worth approximately $157,000. US Bancorp DE grew its stake 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 buying an additional 5,000 shares during the period. nVerses Capital LLC acquired a new stake in shares of Altice USA during the 3rd quarter worth $74,000. Creative Planning raised its position in shares of Altice USA by 64.1% in the 3rd quarter. Creative Planning now owns 57,616 shares of the company’s stock worth $142,000 after buying an additional 22,497 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Altice USA by 102.2% in the third quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company’s stock valued at $89,000 after acquiring an additional 18,200 shares during the last quarter. Institutional investors and hedge funds 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.