Altice USA (NYSE:ATUS) Price Target Raised to $36.00

Altice USA (NYSE:ATUS) had its price target hoisted by Benchmark from $35.00 to $36.00 in a report issued on Thursday morning, AnalystRatings.com reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Pivotal Research restated a buy rating and set a $40.00 price target on shares of Altice USA in a report on Wednesday, July 31st. Citigroup boosted their price target on Altice USA from $27.00 to $32.00 and gave the stock a buy rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price target on Altice USA from $28.00 to $31.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Wells Fargo & Co began coverage on Altice USA in a report on Tuesday, August 27th. They set an outperform rating and a $35.00 price target on the stock. Finally, TD Securities cut Altice USA from a buy rating to a hold rating and set a $33.00 price target on the stock. in a report on Thursday. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $32.07.

NYSE:ATUS opened at $29.34 on Thursday. The stock has a market cap of $19.26 billion, a P/E ratio of 366.75 and a beta of 0.90. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 9.18. The stock’s 50-day moving average is $28.00 and its 200-day moving average is $24.77. Altice USA has a 1-year low of $14.49 and a 1-year high of $30.34.



Altice USA (NYSE:ATUS) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Altice USA had a return on equity of 13.57% and a net margin of 3.16%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) earnings per share. As a group, equities analysts forecast that Altice USA will post 0.56 EPS for the current year.

In related news, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 shares were 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 owns 47,369,305 shares in the company, valued at $1,250,549,652. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Altice USA in the second quarter valued at approximately $222,000. Boston Partners acquired a new position in Altice USA in the second quarter valued at approximately $242,954,000. Atria Investments LLC acquired a new position in Altice USA in the second quarter valued at approximately $1,286,000. BlackRock Inc. lifted its stake in Altice USA by 62.0% in the second quarter. BlackRock Inc. now owns 12,439,401 shares of the company’s stock valued at $302,901,000 after buying an additional 4,761,763 shares during the period. Finally, Barings LLC lifted its stake in Altice USA by 45.0% in the second quarter. Barings LLC now owns 79,300 shares of the company’s stock valued at $1,931,000 after buying an additional 24,600 shares during the period. Institutional investors and hedge funds own 50.98% 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. 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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