Altice USA (NYSE:ATUS) Downgraded to Hold at TD Securities

TD Securities downgraded shares of Altice USA (NYSE:ATUS) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have $33.00 target price on the stock.

A number of other analysts have also recently issued reports on the stock. UBS Group set a $30.00 target price on shares of Altice USA and gave the company a buy rating in a research note on Tuesday, August 20th. Macquarie began coverage on shares of Altice USA in a research note on Wednesday, June 19th. They issued a buy rating and a $30.00 target price for the company. Citigroup boosted their price objective on shares of Altice USA from $27.00 to $32.00 and gave the stock a buy rating in a research note on Friday, August 23rd. Benchmark began coverage on shares of Altice USA in a research note on Monday, September 9th. They issued a buy rating and a $35.00 price objective for the company. Finally, Pivotal Research restated a buy rating and issued a $40.00 price objective on shares of Altice USA in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $32.07.

NYSE ATUS opened at $29.34 on Thursday. 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 market capitalization of $19.26 billion, a PE ratio of 366.75 and a beta of 0.90. The company has a 50 day moving average price of $28.00 and a two-hundred day moving average price of $24.77. Altice USA has a 12-month low of $14.49 and a 12-month high of $30.34.

Altice USA (NYSE:ATUS) last posted 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 firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) earnings per share. As a group, equities analysts anticipate that Altice USA will post 0.56 EPS for the current year.

In related news, 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 transaction of $396,000,000.00. Following the completion of the transaction, the director now directly owns 47,369,305 shares in the company, valued at approximately $1,250,549,652. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Olsen sold 30,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $27.03, for a total transaction of $810,900.00. The disclosure for this sale can be found here. 45.00% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in ATUS. Boston Partners acquired a new position in Altice USA during the 2nd quarter valued at $242,954,000. BlackRock Inc. raised its stake in Altice USA by 62.0% during the 2nd 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. Neuberger Berman Group LLC raised its stake in Altice USA by 425.2% during the 1st quarter. Neuberger Berman Group LLC now owns 4,926,363 shares of the company’s stock valued at $105,818,000 after purchasing an additional 3,988,331 shares during the last quarter. Egerton Capital UK LLP acquired a new position in Altice USA during the 2nd quarter valued at $95,375,000. Finally, FMR LLC raised its stake in Altice USA by 25.6% during the 1st 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. Hedge funds and other institutional investors 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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