TD Securities Trims Altice USA (ATUS) Target Price to $24.00

Altice USA (NYSE:ATUS) had its target price lowered by TD Securities from $25.00 to $24.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 14.29% from the company’s previous close.

A number of other equities analysts have also commented on ATUS. Barclays upgraded Altice USA from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $22.00 to $26.00 in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded Altice USA from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Pivotal Research restated a “buy” rating and set a $28.00 price objective on shares of Altice USA in a research note on Friday, March 9th. JPMorgan Chase lowered their price objective on 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, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective (up previously from $31.00) on shares of Altice USA in a research note on Tuesday, March 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Altice USA currently has an average rating of “Buy” and an average target price of $28.69.

NYSE:ATUS opened at $21.00 on Wednesday. The company has a market cap of $14.37 billion and a P/E ratio of 1,050.00. The company has a quick ratio of 0.34, a current ratio of 0.70 and a debt-to-equity ratio of 4.04. Altice USA has a 1-year low of $19.63 and a 1-year high of $20.11.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Wednesday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.05). The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.34 billion. Altice USA had a negative return on equity of 6.78% and a net margin of 15.69%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) earnings per share. equities research analysts forecast that Altice USA will post -0.14 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. MANA Advisors LLC bought a new position in shares of Altice USA in the 4th quarter valued at $235,000. Virtu Financial LLC bought a new position in shares of Altice USA in the 4th quarter valued at $272,000. Ellington Management Group LLC bought a new position in shares of Altice USA in the 4th quarter valued at $291,000. Gamco Investors INC. ET AL bought a new position in shares of Altice USA in the 1st quarter valued at $259,000. Finally, Guggenheim Capital LLC bought a new position in shares of Altice USA in the 4th quarter valued at $334,000. Institutional investors own 15.88% 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.

Analyst Recommendations for Altice USA (NYSE:ATUS)

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