Altice USA (ATUS) Price Target Cut to $28.00 by Analysts at Buckingham Research

Altice USA (NYSE:ATUS) had its price target decreased by Buckingham Research from $30.00 to $28.00 in a report published on Wednesday. Buckingham Research currently has a buy rating on the stock.

A number of other analysts have also commented on ATUS. TD Securities dropped their price target on Altice USA from $25.00 to $24.00 and set a buy rating for the company in a research note on Wednesday, May 16th. KeyCorp assumed coverage on Altice USA in a research note on Wednesday, May 16th. They issued an overweight rating and a $25.00 price target for the company. Zacks Investment Research raised Altice USA from a sell rating to a hold rating in a research note on Thursday, March 8th. JPMorgan Chase & Co. lowered their price objective on Altice USA from $34.00 to $32.00 and set an overweight rating for the company in a research report on Tuesday, March 6th. Finally, Citigroup lowered their price objective on Altice USA from $38.00 to $30.00 and set a buy rating for the company in a research report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $28.59.

Shares of ATUS stock opened at $18.48 on Wednesday. Altice USA has a 52 week low of $16.25 and a 52 week high of $35.29. The firm has a market capitalization of $13.66 billion and a P/E ratio of 924.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 4.04.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, May 9th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). Altice USA had a negative return on equity of 6.78% and a net margin of 15.69%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the business earned ($0.12) EPS. The business’s revenue was up 1.2% compared to the same quarter last year. sell-side analysts anticipate that Altice USA will post -0.11 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ATUS. Royal Bank of Canada increased its holdings in shares of Altice USA by 392.3% during the first quarter. Royal Bank of Canada now owns 13,871,854 shares of the company’s stock valued at $256,351,000 after acquiring an additional 11,053,821 shares in the last quarter. Lucerne Capital Management LP increased its holdings in shares of Altice USA by 22.0% during the first quarter. Lucerne Capital Management LP now owns 7,455,917 shares of the company’s stock valued at $137,785,000 after acquiring an additional 1,345,627 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Altice USA by 20.1% during the first quarter. BlackRock Inc. now owns 3,875,670 shares of the company’s stock valued at $71,622,000 after acquiring an additional 648,148 shares in the last quarter. Zimmer Partners LP increased its holdings in shares of Altice USA by 8.0% during the first quarter. Zimmer Partners LP now owns 3,749,361 shares of the company’s stock valued at $69,288,000 after acquiring an additional 279,261 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its holdings in shares of Altice USA by 0.4% during the first quarter. Thornburg Investment Management Inc. now owns 2,001,544 shares of the company’s stock valued at $36,989,000 after acquiring an additional 8,128 shares in the last quarter. 17.16% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Altice USA (NYSE:ATUS)

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