Zacks Investment Research upgraded shares of Altice USA (NYSE:ATUS) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. The brokerage currently has $26.00 target price on the stock.
According to Zacks, “Altice remains on track with its five-year plan to build a fiber-to-the-home network and deploy its home communications hub to meet the demand for increased data speed and support evolving technologies. Moreover, the company has been rolling out enhanced data and services for its customers and has upgraded its Altice One entertainment and connectivity platform. It has augmented its market position with the launch of an advanced advertising tool, dubbed a4, to provide audience-based, multi-screen advertising solutions. It is building the next-generation fiber network to deliver broadband speed of 10 Gbps, underscoring its continual investment in technology and innovation for customers in the United States. The stock has also outperformed the industry in the past six months on average. However, higher programming cost per customer due to increase in contractual rates reduces the company’s operating margin to some extent.”
Other research analysts have also recently issued research reports about the company. Barclays set a $27.00 price target on Altice USA and gave the company a buy rating in a research report on Friday, February 22nd. TD Securities upped their price target on Altice USA from $24.00 to $25.00 and gave the company a buy rating in a research report on Friday, February 22nd. ValuEngine raised Altice USA from a hold rating to a buy rating in a research report on Wednesday, February 13th. Finally, Nomura began coverage on Altice USA in a research report on Wednesday, January 16th. They set a buy rating and a $25.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Altice USA has a consensus rating of Buy and an average price target of $25.56.
Shares of NYSE ATUS opened at $23.53 on Tuesday. Altice USA has a one year low of $14.49 and a one year high of $23.79. The company has a debt-to-equity ratio of 6.16, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market cap of $16.28 billion, a PE ratio of 294.13 and a beta of 1.14.
Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. Altice USA had a return on equity of 1.59% and a net margin of 0.20%. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the firm earned $3.06 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Altice USA will post 0.47 EPS for the current fiscal year.
In other Altice USA news, major shareholder S.A.R.L. Suddenvision sold 20,645,478 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $21.35, for a total value of $440,780,955.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Colleen Schmidt sold 100,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $22.58, for a total value of $2,258,000.00. The disclosure for this sale can be found here. 45.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dodge & Cox increased its position in shares of Altice USA by 0.4% during the 3rd quarter. Dodge & Cox now owns 28,249,077 shares of the company’s stock valued at $512,438,000 after purchasing an additional 99,592 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Altice USA by 154.7% during the 3rd quarter. Vanguard Group Inc. now owns 24,455,145 shares of the company’s stock valued at $443,617,000 after purchasing an additional 14,855,173 shares during the last quarter. Vanguard Group Inc increased its position in shares of Altice USA by 154.7% during the 3rd quarter. Vanguard Group Inc now owns 24,455,145 shares of the company’s stock valued at $443,617,000 after purchasing an additional 14,855,173 shares during the last quarter. FMR LLC increased its position in shares of Altice USA by 104.2% during the 4th quarter. FMR LLC now owns 8,973,351 shares of the company’s stock valued at $148,240,000 after purchasing an additional 4,579,254 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Altice USA by 28.4% during the 4th quarter. Deutsche Bank AG now owns 7,755,835 shares of the company’s stock valued at $128,125,000 after purchasing an additional 1,714,753 shares during the last quarter. Institutional investors and hedge funds own 43.04% 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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