Altice USA (NYSE:ATUS) was downgraded by equities research analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Other analysts have also recently issued reports about the company. Sanford C. Bernstein assumed coverage on Altice USA in a research report on Tuesday, October 15th. They set an “outperform” rating and a $38.00 price objective on the stock. TD Securities cut Altice USA from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research report on Thursday, September 19th. Pivotal Research reaffirmed a “buy” rating and set a $40.00 price objective on shares of Altice USA in a research report on Friday, October 11th. Guggenheim lifted their price objective on Altice USA from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Nomura lifted their price objective on Altice USA from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $32.00.

NYSE ATUS traded down $0.18 during trading hours on Wednesday, reaching $26.23. 4,680,018 shares of the stock traded hands, compared to its average volume of 5,242,426. The stock has a 50 day simple moving average of $29.17 and a two-hundred day simple moving average of $26.50. Altice USA has a 1 year low of $15.15 and a 1 year high of $31.78. The company has a debt-to-equity ratio of 9.18, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 327.88 and a beta of 0.92.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.48 billion. Altice USA had a return on equity of 15.68% and a net margin of 3.61%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share. On average, sell-side analysts forecast that Altice USA will post 0.57 EPS for the current fiscal year.

In other news, insider Michael Olsen sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $27.03, for a total value of $810,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alt S.A.R.L. Next sold 15,000,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $26.40, for a total value of $396,000,000.00. Following the completion of the sale, the director now directly owns 47,369,305 shares in the company, valued at $1,250,549,652. The disclosure for this sale can be found here. Insiders own 45.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Altice USA in the 2nd quarter valued at approximately $41,000. Advisor Group Inc. lifted its position in Altice USA by 26.6% in the 2nd quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock valued at $111,000 after acquiring an additional 945 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Altice USA by 33.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,000 shares of the company’s stock valued at $146,000 after acquiring an additional 1,500 shares in the last quarter. NEXT Financial Group Inc bought a new position in Altice USA in the 3rd quarter valued at approximately $147,000. Finally, Whitnell & Co. bought a new position in Altice USA in the 3rd quarter valued at approximately $149,000. 51.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Altice USA (NYSE:ATUS)

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