Citigroup Lowers Altice USA (ATUS) Price Target to $26.00

Altice USA (NYSE:ATUS) had its target price lowered by Citigroup from $28.00 to $26.00 in a research report sent to investors on Thursday. Citigroup currently has a buy rating on the stock.

Several other research firms have also recently issued reports on ATUS. TD Securities decreased their price target on Altice USA from $24.00 to $23.00 and set a buy rating for the company in a research note on Tuesday, August 14th. Barclays reissued a buy rating and issued a $25.00 price target on shares of Altice USA in a research note on Sunday, August 5th. Royal Bank of Canada decreased their price target on Altice USA to $25.00 and set an outperform rating for the company in a research note on Thursday, August 9th. Credit Suisse Group increased their price target on Altice USA from $21.00 to $23.00 and gave the stock an outperform rating in a research note on Tuesday, November 6th. Finally, Zacks Investment Research raised Altice USA from a hold rating to a buy rating and set a $20.00 price target for the company in a research note on Monday, October 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $24.63.

Shares of NYSE ATUS opened at $17.69 on Thursday. Altice USA has a 1-year low of $14.49 and a 1-year high of $25.15. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 6.11. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of 884.50 and a beta of 0.74.

Altice USA (NYSE:ATUS) last issued its earnings results on Monday, November 5th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. Altice USA had a negative return on equity of 3.36% and a net margin of 21.73%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that Altice USA will post -0.07 EPS for the current fiscal year.

In related news, SVP Victoria Mink sold 37,502 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $18.99, for a total transaction of $712,162.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ATUS. Vanguard Group Inc. boosted its stake in Altice USA by 154.7% during the third quarter. Vanguard Group Inc. now owns 24,455,145 shares of the company’s stock valued at $443,617,000 after buying an additional 14,855,173 shares in the last quarter. Scopia Capital Management LP bought a new position in Altice USA during the second quarter valued at about $171,874,000. Deutsche Bank AG boosted its stake in Altice USA by 282.6% during the third quarter. Deutsche Bank AG now owns 6,041,082 shares of the company’s stock valued at $109,585,000 after buying an additional 4,462,086 shares in the last quarter. Morgan Stanley boosted its stake in Altice USA by 1,115.0% during the second quarter. Morgan Stanley now owns 4,429,699 shares of the company’s stock valued at $75,570,000 after buying an additional 4,065,121 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Altice USA by 4,670.6% during the third quarter. Bank of New York Mellon Corp now owns 4,007,010 shares of the company’s stock valued at $72,687,000 after buying an additional 3,923,016 shares in the last quarter. 39.85% of the stock is owned by institutional investors and hedge funds.

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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