Altice USA (NYSE:ATUS) Reaches New 12-Month High at $27.81

Altice USA Inc (NYSE:ATUS) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $27.81 and last traded at $27.69, with a volume of 3240488 shares traded. The stock had previously closed at $27.27.

ATUS has been the topic of several research analyst reports. Citigroup lifted their price target on Altice USA from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. Pivotal Research reaffirmed a “buy” rating and set a $40.00 price target on shares of Altice USA in a research report on Wednesday, July 31st. Nomura boosted their target price on Altice USA from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Macquarie started coverage on Altice USA in a report on Wednesday, June 19th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Zacks Investment Research lowered Altice USA from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $30.36.

The firm has a market cap of $17.66 billion, a price-to-earnings ratio of 343.13 and a beta of 0.99. 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 stock has a fifty day moving average price of $26.20 and a 200-day moving average price of $23.72.

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

In related news, insider Michael Olsen sold 30,000 shares of Altice USA stock in a transaction that occurred 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 filing with the SEC, which is available through the SEC website. Also, Director Dennis Okhuijsen sold 551,724 shares of Altice USA stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $24.67, for a total value of $13,611,031.08. The disclosure for this sale can be found here. Insiders own 45.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its stake in shares of Altice USA by 60.2% in the second quarter. First Trust Advisors LP now owns 1,438,312 shares of the company’s stock valued at $35,023,000 after buying an additional 540,256 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Altice USA by 425.2% in the first 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 in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Altice USA in the first quarter valued at approximately $268,000. Marshall Wace LLP boosted its stake in shares of Altice USA by 36,432.8% in the first quarter. Marshall Wace LLP now owns 678,049 shares of the company’s stock valued at $14,564,000 after buying an additional 676,193 shares in the last quarter. Finally, Stevens Capital Management LP boosted its stake in shares of Altice USA by 6.9% in the second quarter. Stevens Capital Management LP now owns 105,583 shares of the company’s stock valued at $2,571,000 after buying an additional 6,828 shares in the last quarter. Hedge funds and other institutional investors own 51.27% of the company’s stock.

About Altice USA (NYSE:ATUS)

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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