Altice USA (NYSE:ATUS) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Altice USA (NYSE:ATUS) from an outperform rating to a strong-buy rating in a research note published on Thursday, Benzinga reports. Raymond James currently has $35.00 price target on the stock, up from their previous price target of $32.00.

Several other equities analysts have also recently weighed in on the company. Pivotal Research restated a buy rating and issued a $40.00 price objective on shares of Altice USA in a report on Wednesday. HSBC cut Altice USA from a buy rating to a hold rating and set a $28.00 price target for the company. in a report on Thursday, November 14th. Atlantic Securities cut Altice USA from an overweight rating to a neutral rating in a report on Wednesday, November 6th. Stephens lifted their price target on Altice USA from $6.00 to $8.00 and gave the stock an equal weight rating in a report on Monday, November 4th. Finally, TD Securities reduced their price target on Altice USA from $33.00 to $32.00 and set a hold rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $32.39.

Shares of NYSE ATUS traded up $0.74 during mid-day trading on Thursday, hitting $28.71. The company had a trading volume of 8,251,016 shares, compared to its average volume of 6,345,862. The company has a market capitalization of $18.14 billion, a PE ratio of 56.30 and a beta of 0.81. The firm has a 50-day simple moving average of $28.07 and a two-hundred day simple moving average of $27.87. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 11.57. Altice USA has a one year low of $20.84 and a one year high of $31.78.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.10). The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.51 billion. Altice USA had a net margin of 3.61% and a return on equity of 17.04%. Altice USA’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. Sell-side analysts expect that Altice USA will post 0.6 earnings per share for the current fiscal year.

In other Altice USA news, Director Gerrit Jan Bakker sold 12,802 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $27.00, for a total transaction of $345,654.00. Following the completion of the sale, the director now directly owns 29,951 shares in the company, valued at $808,677. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 45.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of ATUS. Amundi Pioneer Asset Management Inc. acquired a new stake in Altice USA during the first quarter worth approximately $2,255,000. Ladenburg Thalmann Financial Services Inc. lifted its position 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 worth $146,000 after acquiring an additional 1,500 shares during the last quarter. BlackRock Inc. lifted its position in Altice USA by 62.0% during the second quarter. BlackRock Inc. now owns 12,439,401 shares of the company’s stock worth $302,901,000 after acquiring an additional 4,761,763 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Altice USA during the third quarter worth approximately $1,361,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in Altice USA by 188.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 28,271 shares of the company’s stock worth $811,000 after acquiring an additional 18,464 shares during the last quarter. Hedge funds and other institutional investors own 56.48% 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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Analyst Recommendations for Altice USA (NYSE:ATUS)

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