Brokerages Set Altice USA, Inc. (NYSE:ATUS) Target Price at $2.41

Altice USA, Inc. (NYSE:ATUS) has received an average recommendation of “Reduce” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.41.

ATUS has been the subject of a number of research analyst reports. Raymond James upgraded 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 increased their price target on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen lowered their price target on Altice USA from $6.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Insider Buying and Selling at Altice USA

In other news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $24.50, for a total transaction of $19,728,061.50. Following the sale, the director now owns 17,925,096 shares of the company’s stock, valued at approximately $439,164,852. This trade represents a 4.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,247,061 shares of company stock valued at $177,552,995 in the last quarter. Corporate insiders own 52.90% of the company’s stock.

Institutional Investors Weigh In On Altice USA

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC acquired a new stake in shares of Altice USA during the 4th quarter worth about $25,000. Quadrature Capital Ltd acquired a new stake in shares of Altice USA during the 3rd quarter worth about $27,000. Raymond James Financial Inc. acquired a new stake in shares of Altice USA during the 4th quarter worth about $30,000. D.A. Davidson & CO. acquired a new stake in shares of Altice USA during the 3rd quarter worth about $32,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Altice USA during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Stock Performance

NYSE ATUS opened at $2.84 on Thursday. The stock’s fifty day moving average is $2.68 and its two-hundred day moving average is $2.43. The firm has a market capitalization of $1.31 billion, a P/E ratio of -12.33 and a beta of 1.52. Altice USA has a fifty-two week low of $1.52 and a fifty-two week high of $3.20.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). As a group, sell-side analysts forecast that Altice USA will post -0.24 EPS for the current year.

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.