Benchmark Begins Coverage on Altice USA (NYSE:ATUS)

Benchmark began coverage on shares of Altice USA (NYSE:ATUS) in a research note published on Monday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $35.00 target price on the stock.

A number of other brokerages have also commented on ATUS. Macquarie began coverage on Altice USA in a research report on Wednesday, June 19th. They issued a buy rating and a $30.00 price objective on the stock. Citigroup increased their price objective on Altice USA from $27.00 to $32.00 and gave the company a buy rating in a research report on Friday, August 23rd. Pivotal Research reiterated a buy rating and issued a $40.00 price objective on shares of Altice USA in a research report on Wednesday, July 31st. UBS Group set a $30.00 price objective on Altice USA and gave the company a buy rating in a research report on Tuesday, August 20th. Finally, KeyCorp increased their price objective on Altice USA from $25.00 to $31.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $31.62.

Shares of ATUS opened at $28.89 on Monday. The firm has a market capitalization of $18.41 billion, a price-to-earnings ratio of 361.13 and a beta of 0.90. The company has a debt-to-equity ratio of 9.18, a quick ratio of 0.29 and a current ratio of 0.29. The business’s fifty day moving average price is $27.47 and its two-hundred day moving average price is $24.45. Altice USA has a 52 week low of $14.49 and a 52 week high of $29.89.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.05. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Altice USA had a return on equity of 13.57% and a net margin of 3.16%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned ($0.13) EPS. As a group, research analysts forecast that Altice USA will post 0.56 EPS for the current year.

In related news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the sale, the director now owns 47,369,305 shares of the company’s stock, valued at approximately $1,250,549,652. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Olsen sold 30,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $27.03, for a total value of $810,900.00. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Altice USA by 1.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 39,103 shares of the company’s stock worth $952,000 after buying an additional 400 shares during the period. Cerebellum GP LLC raised its stake in Altice USA by 6.5% during the 1st quarter. Cerebellum GP LLC now owns 15,114 shares of the company’s stock worth $325,000 after buying an additional 924 shares during the period. Advisor Group Inc. raised its stake in Altice USA by 26.6% during the 2nd quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock worth $111,000 after buying an additional 945 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Altice USA by 33.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,000 shares of the company’s stock worth $146,000 after buying an additional 1,500 shares during the period. Finally, TD Asset Management Inc. raised its stake in Altice USA by 0.7% during the 2nd quarter. TD Asset Management Inc. now owns 206,409 shares of the company’s stock worth $5,026,000 after buying an additional 1,527 shares during the period. 51.04% of the stock is currently owned by institutional investors and hedge funds.

About Altice USA

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.

See Also: What is a Buy-Side Analyst?

Analyst Recommendations for Altice USA (NYSE:ATUS)

Receive News & Ratings for Altice USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altice USA and related companies with MarketBeat.com's FREE daily email newsletter.