Altice USA (NYSE:ATUS) Price Target Increased to $35.00 by Analysts at Nomura

Altice USA (NYSE:ATUS) had its price objective increased by Nomura from $30.00 to $35.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.

ATUS has been the subject of several other research reports. TD Securities increased their target price on shares of Altice USA from $27.00 to $29.00 and gave the company a buy rating in a report on Tuesday, May 7th. Zacks Investment Research lowered shares of Altice USA from a buy rating to a hold rating in a report on Tuesday, April 30th. Macquarie assumed coverage on shares of Altice USA in a report on Wednesday, June 19th. They set a buy rating and a $30.00 target price on the stock. KeyCorp raised their target price on shares of Altice USA from $25.00 to $31.00 and gave the company an overweight rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on shares of Altice USA from $28.00 to $31.00 and gave the company an overweight rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $29.42.

NYSE ATUS traded down $0.16 on Thursday, hitting $26.98. 5,991,762 shares of the company were exchanged, compared to its average volume of 4,984,272. The stock has a market capitalization of $18.32 billion, a P/E ratio of 337.25 and a beta of 0.99. Altice USA has a 12 month low of $14.49 and a 12 month high of $27.74. The stock’s fifty day moving average is $24.96. The company has a debt-to-equity ratio of 7.77, a quick ratio of 0.39 and a current ratio of 0.39.

Altice USA (NYSE:ATUS) last issued its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Altice USA had a net margin of 1.27% and a return on equity of 8.16%. Altice USA’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) earnings per share. As a group, research analysts anticipate that Altice USA will post 0.51 earnings per share for the current year.

In related news, Director Dennis Okhuijsen sold 551,724 shares of Altice USA stock in a transaction on Monday, June 10th. The shares were sold at an average price of $24.67, for a total value of $13,611,031.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 45.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Altice USA during the 2nd quarter valued at $41,000. LS Investment Advisors LLC bought a new stake in shares of Altice USA during the 1st quarter valued at $82,000. Quantamental Technologies LLC bought a new stake in shares of Altice USA during the 1st quarter valued at $96,000. Advisor Group Inc. boosted its holdings in shares of Altice USA by 26.6% during the 2nd quarter. Advisor Group Inc. now owns 4,503 shares of the company’s stock valued at $111,000 after buying an additional 945 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Altice USA by 340.9% during the 1st quarter. Bank of Montreal Can now owns 7,261 shares of the company’s stock valued at $156,000 after buying an additional 5,614 shares in the last quarter. 50.32% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Altice USA (NYSE:ATUS)

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