TD Securities Trims Altice USA (NYSE:ATUS) Target Price to $32.00

Altice USA (NYSE:ATUS) had its price target decreased by TD Securities from $33.00 to $32.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

ATUS has been the subject of several other reports. Benchmark lifted their price objective on shares of Altice USA from $35.00 to $36.00 and gave the stock a buy rating in a research note on Thursday, September 19th. Barclays downgraded shares of Altice USA from an overweight rating to an equal weight rating and lowered their price objective for the stock from $33.00 to $31.00 in a research note on Wednesday. Nomura raised their target price on shares of Altice USA from $35.00 to $42.00 and gave the stock a buy rating in a report on Wednesday, September 11th. KeyCorp raised their target price on shares of Altice USA from $25.00 to $31.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Finally, Stephens raised their target price on shares of Altice USA from $6.00 to $8.00 and gave the stock an equal weight rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $32.00.

ATUS traded down $0.18 during trading on Wednesday, hitting $26.23. The stock had a trading volume of 4,319,284 shares, compared to its average volume of 5,242,426. The company has a market capitalization of $20.31 billion, a PE ratio of 327.88 and a beta of 0.92. Altice USA has a twelve month low of $15.15 and a twelve month high of $31.78. 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 stock has a 50 day simple moving average of $29.17 and a two-hundred day simple moving average of $26.50.

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

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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 value of $810,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the completion of the transaction, the director now directly owns 47,369,305 shares of the company’s stock, valued at approximately $1,250,549,652. The disclosure for this sale can be found here. Company insiders own 45.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Altice USA during the second quarter worth about $41,000. Advisor Group Inc. increased its stake in shares of Altice USA by 26.6% during the second quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock worth $111,000 after purchasing an additional 945 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of 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 purchasing an additional 1,500 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Altice USA during the third quarter worth about $147,000. Finally, Whitnell & Co. purchased a new stake in shares of Altice USA during the third quarter worth about $149,000. 51.03% of the stock is 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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