Altice USA’s (ATUS) Buy Rating Reaffirmed at Pivotal Research

Altice USA (NYSE:ATUS)‘s stock had its “buy” rating reiterated by analysts at Pivotal Research in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $32.00 target price on the stock, up from their previous target price of $28.00. Pivotal Research’s price target indicates a potential upside of 34.45% from the company’s current price.

ATUS has been the topic of several other reports. Barclays set a $27.00 target price on Altice USA and gave the stock a “buy” rating in a research note on Friday, February 22nd. TD Securities boosted their target price on Altice USA from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. TheStreet upgraded Altice USA from a “d+” rating to a “c+” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research downgraded Altice USA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $25.90.

Shares of ATUS stock opened at $23.80 on Friday. 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 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 7.77. The firm has a market cap of $16.07 billion, a P/E ratio of 297.50 and a beta of 1.03.

Altice USA (NYSE:ATUS) last announced its earnings results on Thursday, May 2nd. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.08). Altice USA had a return on equity of 8.16% and a net margin of 1.27%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Altice USA will post 0.6 earnings per share for the current fiscal year.

In other news, Director Dennis Okhuijsen sold 551,724 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $24.67, for a total value of $13,611,031.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colleen Schmidt sold 100,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $22.58, for a total value of $2,258,000.00. The disclosure for this sale can be found here. 45.00% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of ATUS. Vanguard Group Inc lifted its holdings in shares of Altice USA by 154.7% in the 3rd 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 during the period. FMR LLC lifted its holdings in shares of Altice USA by 104.2% in the 4th quarter. FMR LLC now owns 8,973,351 shares of the company’s stock valued at $148,240,000 after buying an additional 4,579,254 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Altice USA by 425.2% in the 1st quarter. Neuberger Berman Group LLC now owns 4,926,363 shares of the company’s stock valued at $105,818,000 after buying an additional 3,988,331 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Altice USA by 85.0% in the 1st quarter. Renaissance Technologies LLC now owns 8,484,000 shares of the company’s stock valued at $182,236,000 after buying an additional 3,898,100 shares during the period. Finally, Zimmer Partners LP lifted its holdings in shares of Altice USA by 41.1% in the 1st quarter. Zimmer Partners LP now owns 7,363,635 shares of the company’s stock valued at $158,171,000 after buying an additional 2,145,100 shares during the period. 50.51% 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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Analyst Recommendations for Altice USA (NYSE:ATUS)

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