Altice USA (NYSE:ATUS) Lowered to Sell at ValuEngine

ValuEngine lowered shares of Altice USA (NYSE:ATUS) from a hold rating to a sell rating in a research note released on Wednesday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Altice USA from $28.00 to $31.00 and gave the company an overweight rating in a research note on Thursday, August 1st. Guggenheim increased their price target on Altice USA from $32.00 to $33.00 and gave the company a buy rating in a research note on Thursday, September 19th. Pivotal Research restated a buy rating and issued a $40.00 price target on shares of Altice USA in a research note on Wednesday, July 31st. Benchmark increased their price target on Altice USA from $35.00 to $36.00 and gave the company a buy rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Co started coverage on Altice USA in a research note on Tuesday, August 27th. They issued an outperform rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $32.43.

ATUS traded up $0.07 during trading hours on Wednesday, reaching $28.88. The company’s stock had a trading volume of 2,789,694 shares, compared to its average volume of 5,043,892. Altice USA has a 52 week low of $14.49 and a 52 week high of $30.34. The company’s 50-day moving average is $28.56 and its 200-day moving average is $25.28. The company has a debt-to-equity ratio of 9.18, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $18.71 billion, a PE ratio of 361.00 and a beta of 0.90.

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATUS. Great West Life Assurance Co. Can grew its holdings in shares of Altice USA by 10,386.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 93,858 shares of the company’s stock worth $2,010,000 after purchasing an additional 92,963 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Altice USA by 9.8% during the 1st quarter. First Trust Advisors LP now owns 898,056 shares of the company’s stock worth $19,290,000 after purchasing an additional 80,520 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Altice USA during the 1st quarter worth $1,192,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Altice USA by 59.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 143,292 shares of the company’s stock worth $2,558,000 after purchasing an additional 53,292 shares in the last quarter. Finally, Swiss National Bank acquired a new stake in shares of Altice USA during the 1st quarter worth $23,424,000. 50.98% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Altice USA (NYSE:ATUS)

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