Altice USA (NYSE:ATUS) PT Raised to $35.00

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Altice USA (NYSE:ATUS) had its price objective raised by Nomura from $30.00 to $35.00 in a research note published on Thursday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the stock.

Several other brokerages have also commented on ATUS. Pivotal Research restated a buy rating and issued a $40.00 price objective on shares of Altice USA in a report on Wednesday, July 31st. TheStreet raised shares of Altice USA from a d+ rating to a c+ rating in a research report on Thursday, April 25th. Macquarie started coverage on shares of Altice USA in a research report on Wednesday, June 19th. They set a buy rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Altice USA from $28.00 to $31.00 and gave the company an overweight rating in a research report on Thursday. Finally, KeyCorp increased their price objective on shares of Altice USA from $25.00 to $31.00 and gave the company an overweight rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $29.42.

Shares of NYSE ATUS opened at $26.98 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.29 and a debt-to-equity ratio of 9.18. Altice USA has a 12 month low of $14.49 and a 12 month high of $27.74. The company has a market cap of $18.21 billion, a price-to-earnings ratio of 337.25 and a beta of 0.99. The stock has a fifty day moving average of $24.96.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the business earned ($0.13) EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts expect that Altice USA will post 0.51 EPS for the current year.

In related news, Director Dennis Okhuijsen sold 551,724 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $24.67, for a total transaction of $13,611,031.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 45.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Altice USA during the 2nd quarter valued at about $41,000. LS Investment Advisors LLC purchased a new stake in shares of Altice USA during the 1st quarter valued at about $82,000. Quantamental Technologies LLC purchased a new stake in shares of Altice USA during the 1st quarter valued at about $96,000. Advisor Group Inc. boosted its holdings in shares of Altice USA by 26.6% during the 2nd quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock valued at $111,000 after acquiring an additional 945 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Altice USA by 340.9% during the 1st quarter. Bank of Montreal Can now owns 7,261 shares of the company’s stock valued at $156,000 after acquiring an additional 5,614 shares during the last quarter. 50.22% of the stock is currently owned by hedge funds and other institutional investors.

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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