TD Securities Downgrades Altice USA (NYSE:ATUS) to Hold

TD Securities cut shares of Altice USA (NYSE:ATUS) from a buy rating to a hold rating in a research note published on Thursday, September 19th, BayStreet.CA reports. TD Securities currently has $33.00 price objective on the stock.

Several other research firms have also commented on ATUS. JPMorgan Chase & Co. lifted their price target on Altice USA from $28.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. KeyCorp boosted their target price on Altice USA from $25.00 to $31.00 and gave the company an overweight rating in a report on Thursday, August 1st. UBS Group set a $30.00 target price on Altice USA and gave the company a buy rating in a report on Tuesday, August 20th. Pivotal Research reissued a buy rating and issued a $40.00 target price on shares of Altice USA in a report on Wednesday, July 31st. Finally, Citigroup boosted their target price on Altice USA from $27.00 to $32.00 and gave the company a buy rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $32.07.

ATUS stock opened at $28.60 on Thursday. The business has a 50 day moving average price of $28.32 and a 200 day moving average price of $25.03. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 47.26 and a beta of 0.90. Altice USA has a fifty-two week low of $14.49 and a fifty-two week high of $30.34. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 9.18.

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

In related news, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $27.03, for a total value of $810,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.40, for a total value of $396,000,000.00. Following the completion of the transaction, the director now owns 47,369,305 shares of the company’s stock, valued at $1,250,549,652. The disclosure for this sale can be found here. 45.00% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Soroban Capital Partners LP grew its stake in shares of Altice USA by 5.0% in the second quarter. Soroban Capital Partners LP now owns 21,000,000 shares of the company’s stock valued at $511,350,000 after buying an additional 1,000,000 shares in the last quarter. BlackRock Inc. boosted its holdings in Altice USA by 62.0% in the second quarter. BlackRock Inc. now owns 12,439,401 shares of the company’s stock valued at $302,901,000 after purchasing an additional 4,761,763 shares during the last quarter. FMR LLC boosted its holdings in Altice USA by 25.6% in the first quarter. FMR LLC now owns 11,272,679 shares of the company’s stock valued at $242,137,000 after purchasing an additional 2,299,328 shares during the last quarter. Boston Partners purchased a new position in Altice USA in the second quarter valued at about $242,954,000. Finally, Zimmer Partners LP boosted its holdings in Altice USA by 5.6% in the second quarter. Zimmer Partners LP now owns 7,774,733 shares of the company’s stock valued at $189,315,000 after purchasing an additional 411,098 shares during the last quarter. Institutional investors and hedge funds own 50.98% of the company’s stock.

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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Analyst Recommendations for Altice USA (NYSE:ATUS)

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