Societe Generale Initiates Coverage on Altice USA (ATUS)

Investment analysts at Societe Generale started coverage on shares of Altice USA (NYSE:ATUS) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.

ATUS has been the subject of a number of other research reports. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Altice USA in a report on Wednesday, August 23rd. Guggenheim reiterated a “neutral” rating and issued a $31.00 price target on shares of Altice USA in a research note on Friday, September 15th. Moffett Nathanson began coverage on shares of Altice USA in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $28.00 price target for the company. Atlantic Securities began coverage on shares of Altice USA in a research note on Tuesday, October 31st. They issued an “overweight” rating and a $32.00 price target for the company. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $25.00 price target (down previously from $34.00) on shares of Altice USA in a research note on Monday, November 6th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.71.

Altice USA (NYSE:ATUS) traded down $0.16 during trading on Wednesday, reaching $19.05. 3,342,300 shares of the company traded hands, compared to its average volume of 1,605,624. Altice USA has a 52-week low of $17.80 and a 52-week high of $35.29. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 6.82.

Several institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC purchased a new position in Altice USA in the 2nd quarter valued at about $12,436,000. TD Asset Management Inc. purchased a new position in shares of Altice USA during the 2nd quarter worth about $656,000. JPMorgan Chase & Co. purchased a new position in shares of Altice USA during the 2nd quarter worth about $4,329,000. Macquarie Group Ltd. acquired a new stake in Altice USA during the 2nd quarter worth approximately $877,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Altice USA during the 2nd quarter worth approximately $14,162,000. Institutional investors and hedge funds own 13.23% of the company’s stock.

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Altice USA Company Profile

Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.

The Fly

Analyst Recommendations for Altice USA (NYSE:ATUS)



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