Altice USA (NYSE:ATUS) Downgraded by Atlantic Securities

Atlantic Securities lowered shares of Altice USA (NYSE:ATUS) from an overweight rating to a neutral rating in a report issued on Wednesday, The Fly reports.

Several other research firms have also weighed in on ATUS. TD Securities lowered shares of Altice USA from a buy rating to a hold rating and set a $33.00 target price for the company. in a report on Thursday, September 19th. Benchmark lifted their target price on shares of Altice USA from $35.00 to $36.00 and gave the company a buy rating in a report on Thursday, September 19th. Barclays lowered shares of Altice USA from an overweight rating to an equal weight rating and cut their target price for the company from $33.00 to $31.00 in a report on Wednesday. Wells Fargo & Co assumed coverage on shares of Altice USA in a report on Tuesday, August 27th. They set an outperform rating and a $35.00 target price for the company. Finally, ValuEngine lowered shares of Altice USA from a hold rating to a sell rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $32.00.

Shares of NYSE:ATUS traded down $0.18 during trading on Wednesday, hitting $26.23. 4,319,284 shares of the stock traded hands, compared to its average volume of 5,242,426. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 9.18. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 327.88 and a beta of 0.92. The company has a fifty day moving average price of $29.17 and a two-hundred day moving average price of $26.50. Altice USA has a 52-week low of $15.15 and a 52-week high of $31.78.

Altice USA (NYSE:ATUS) last posted its earnings results on Tuesday, November 5th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.48 billion. Altice USA had a net margin of 3.61% and a return on equity of 15.68%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. On average, equities research analysts predict that Altice USA will post 0.57 EPS for the current fiscal year.

In other Altice USA news, insider Michael Olsen sold 30,000 shares of Altice USA stock in a transaction on Monday, August 12th. The shares were sold at an average price of $27.03, for a total transaction of $810,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of Altice USA stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the sale, the director now directly owns 47,369,305 shares in the company, valued at approximately $1,250,549,652. The disclosure for this sale can be found here. Insiders own 45.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ATUS. Boston Partners acquired a new stake in Altice USA during the 2nd quarter worth $242,954,000. BlackRock Inc. boosted its position in shares of Altice USA by 62.0% during the 2nd quarter. BlackRock Inc. now owns 12,439,401 shares of the company’s stock valued at $302,901,000 after acquiring an additional 4,761,763 shares during the last quarter. Egerton Capital UK LLP acquired a new position in shares of Altice USA during the 2nd quarter valued at about $95,375,000. Senator Investment Group LP boosted its position in shares of Altice USA by 50.0% during the 2nd quarter. Senator Investment Group LP now owns 6,000,000 shares of the company’s stock valued at $146,100,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of Altice USA during the 2nd quarter valued at about $47,290,000. 51.03% of the stock is currently owned by institutional investors.

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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