Altice USA (NYSE:ATUS) Downgraded by TD Securities to Hold

TD Securities lowered shares of Altice USA (NYSE:ATUS) from a buy rating to a hold rating in a report released on Thursday morning, BayStreet.CA reports. They currently have $33.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Pivotal Research reissued a buy rating and set a $40.00 price target on shares of Altice USA in a research report on Wednesday, July 31st. ValuEngine downgraded Altice USA from a buy rating to a hold rating in a research report on Friday, August 2nd. Benchmark initiated coverage on Altice USA in a research report on Monday, September 9th. They set a buy rating and a $35.00 price target for the company. Wells Fargo & Co initiated coverage on Altice USA in a research report on Tuesday, August 27th. They set an outperform rating and a $35.00 price target for the company. Finally, UBS Group set a $30.00 price target on Altice USA and gave the company a buy rating in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Altice USA presently has an average rating of Buy and an average price target of $32.07.

Shares of NYSE:ATUS traded down $0.08 during midday trading on Thursday, reaching $29.65. The company’s stock had a trading volume of 16,736 shares, compared to its average volume of 5,373,808. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of 370.06 and a beta of 0.90. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 9.18. Altice USA has a 1 year low of $14.49 and a 1 year high of $30.34. The business has a 50 day moving average price of $27.94 and a 200 day moving average price of $24.73.



Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.05. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Altice USA had a return on equity of 13.57% and a net margin of 3.16%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Sell-side analysts anticipate that Altice USA will post 0.56 earnings per share for the current fiscal year.

In other news, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $27.03, for a total value of $810,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 47,369,305 shares of the company’s stock, valued at approximately $1,250,549,652. The disclosure for this sale can be found here. 45.00% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in ATUS. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Altice USA in the second quarter worth about $41,000. Advisor Group Inc. raised its stake in Altice USA by 26.6% during the second quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock valued at $111,000 after buying an additional 945 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Altice USA by 33.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,000 shares of the company’s stock valued at $146,000 after buying an additional 1,500 shares in the last quarter. Bank of Montreal Can raised its stake in Altice USA by 340.9% during the first quarter. Bank of Montreal Can now owns 7,261 shares of the company’s stock valued at $156,000 after buying an additional 5,614 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its stake in Altice USA by 1,094.6% during the second quarter. CSat Investment Advisory L.P. now owns 7,096 shares of the company’s stock valued at $173,000 after buying an additional 6,502 shares in the last quarter. Institutional investors and hedge funds own 50.98% of the company’s stock.

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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Analyst Recommendations for Altice USA (NYSE:ATUS)

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