Zacks Investment Research upgraded shares of Altice USA (NYSE:ATUS) from a sell rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Shares of Altice USA have soared 7% outperforming the industry’s gain of 4% in the past three months. Ushering in further good news, the company reported better-than-expected earnings and revenues in fourth-quarter 2017. Growth was witnessed across all major segments. The company continues to deploy fiber network in various international markets and ink different content and programming-related deals. It’s efforts to improve customer services, sales and marketing efficiencies through digitalization have paid-off with the increasing number of customers. However, Altice USA’s operation in a highly competitive, consumer and technology-driven market, which is highly dependent on rapidly changing businesses and consumer choices, remains a concern. Further, higher programming costs and other operating expenses are likely to affect margins going forward. Adverse foreign currency movements are also likely to hurt results.”
ATUS has been the topic of several other reports. Royal Bank of Canada reaffirmed an outperform rating and set a $35.00 price objective (up from $31.00) on shares of Altice USA in a research note on Tuesday, March 6th. Moffett Nathanson raised shares of Altice USA from a neutral rating to a buy rating in a research note on Friday, November 10th. Societe Generale began coverage on shares of Altice USA in a research note on Wednesday, December 13th. They set a buy rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Altice USA from $34.00 to $32.00 and set an overweight rating on the stock in a research note on Tuesday, March 6th. Finally, Morgan Stanley decreased their price objective on shares of Altice USA from $32.00 to $25.00 and set an equal weight rating on the stock in a research note on Tuesday, November 14th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $31.71.
Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. equities analysts expect that Altice USA will post 0.13 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of Altice USA during the third quarter valued at approximately $1,346,000. Lucerne Capital Management LP bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $129,721,000. Gabelli Funds LLC grew its stake in shares of Altice USA by 35.6% during the fourth quarter. Gabelli Funds LLC now owns 137,000 shares of the company’s stock valued at $2,909,000 after purchasing an additional 36,000 shares during the last quarter. Harbor Advisors LLC bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $531,000. Finally, Pelham Capital Ltd. grew its stake in shares of Altice USA by 54.9% during the fourth quarter. Pelham Capital Ltd. now owns 2,555,474 shares of the company’s stock valued at $54,253,000 after purchasing an additional 905,474 shares during the last quarter. 15.89% of the stock is currently owned by institutional investors and hedge funds.
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About Altice USA
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.
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