Goldman Sachs Group Reduces Altice USA (NYSE:ATUS) Target Price to $10.00
Altice USA (NYSE: ATUS – Get Note) saw its target price lowered by Goldman Sachs Group equity research analysts from $13.00 to $10.00 in a report on Tuesday, Benzinga reports. The company currently has a “buy” rating on the stock. Goldman Sachs Group’s price target suggests a potential upside of 53.61% from the current share price.
A number of other brokerages also commented on ATUS. Royal Bank of Canada lowered its price target on Altice USA shares from $23.00 to $19.00 and set an “outperform” rating on the stock in a Thursday, August 4, report. New Street Research upgraded Altice USA shares from a “neutral” rating to a “buy” rating and set a price target of $15.00 on the stock in a Wednesday, August 3 report. TD Securities raised its price target on Altice USA shares from $17.00 to $21.00 and gave the stock a “buy” rating in a Thursday, Aug. 4, report. Morgan Stanley lowered its price target on Altice USA shares from $12.00 to $11.00 and set an “equal weight” rating on the stock in a Thursday, Aug. 4, report. Finally, Deutsche Bank Aktiengesellschaft cut its price target on Altice USA shares from $14.00 to $13.00 in a Tuesday, July 19 research report. Sixteen research analysts gave the stock a hold rating and nine gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.39.
Altice USA share performance
ATUS opened at $6.51 on Tuesday. The company’s fifty-day moving average is $10.01 and its two-hundred-day moving average is $10.32. The company has a market capitalization of $2.96 billion, a PE ratio of 3.62, a growth price-earnings ratio of 0.27 and a beta of 1.26. Altice USA has a 12-month low of $6.38 and a 12-month high of $21.15.
Altice USA (NYSE:ATUS – Get Rating) last released quarterly earnings data on Wednesday, August 3. The company reported EPS of $0.35 for the quarter, beating analyst consensus estimates of $0.33 by $0.02. Altice USA has a net margin of 8.23% and a negative return on equity of 112.67%. The company posted revenue of $2.46 billion for the quarter, versus analyst estimates of $2.45 billion. During the same period last year, the company posted earnings per share of $0.52. Equity analysts expect Altice USA to post EPS of 1.35 for the current fiscal year.
Insider buying and selling
In a similar vein, director Charles Stewart sold 31,560 shares of Altice USA in a trade dated Tuesday, September 13. The shares were sold at an average price of $9.99, for a total transaction of $315,284.40. Following the completion of the sale, the director now owns 1,323,925 shares of the company, valued at approximately $13,226,010.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. 52.60% of the shares are currently held by insiders.
Altice USA Institutional Trading
Several hedge funds and other institutional investors have recently bought and sold shares of ATUS. Bank of Montreal Can increased its stake in Altice USA by 11.5% in the fourth quarter. Bank of Montreal Can now owns 85,571 shares of the company worth $1,423,000 after buying an additional 8,792 shares last quarter. Charles Schwab Investment Management Inc. increased its stake in Altice USA by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,487,787 shares of the company worth $24,072,000 after purchasing an additional 98,181 shares last quarter. Geode Capital Management LLC increased its stake in Altice USA by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,654,143 shares of the company worth $42,944,000 after purchasing an additional 53,666 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Altice USA in Q4 worth approximately $276,000. Finally, Nuveen Asset Management LLC increased its position in Altice USA shares by 2.2% in the 4th quarter. Nuveen Asset Management LLC now owns 2,985,077 shares of the company valued at $45,448,000 after purchasing an additional 64,178 shares last quarter. Institutional investors and hedge funds own 56.28% of the company’s shares.
Altice USA Company Profile
(Get a rating)
Altice USA, Inc, together with its subsidiaries, provides broadband video and communications services in the United States, Canada, Puerto Rico and the Virgin Islands. It offers broadband, video, telephony and mobile services to approximately five million residential and business customers. The Company’s video services include delivery of broadcast stations and cable networks; on the best services; video on demand, high definition channels, digital video recorder and à la carte services; and video programming platforms through mobile apps.
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