Pivotal Research restated their buy rating on shares of Altice USA (NYSE:ATUS) in a research note issued to investors on Friday morning. Pivotal Research currently has a $28.00 price objective on the stock.
“We updated our estimates and initiated 2018 quarterly forecasts post the recent filing of ATUS’s 10-K. There is no change to our YE’18 target price of $28. We view the stock as attractively valued (at 11X ’18 free cash flow and 8.7X ’19 (ATC is not a full tax payer), however as expected the stock has traded sideways as of late partly driven by issues that should begin to clear up post the spin from parent Altice NV (ATC.NV, Buy).”,” the firm’s analyst commented.
A number of other research analysts have also recently weighed in on the stock. Barclays raised shares of Altice USA from an equal weight rating to an overweight rating and lifted their price target for the company from $22.00 to $26.00 in a research report on Tuesday, January 23rd. Moffett Nathanson raised shares of Altice USA from a neutral rating to a buy rating in a research report on Friday, November 10th. Societe Generale started coverage on shares of Altice USA in a research report on Wednesday, December 13th. They set a buy rating on the stock. Morgan Stanley reduced their price target on shares of Altice USA from $32.00 to $25.00 and set an equal weight rating on the stock in a research report on Tuesday, November 14th. Finally, Royal Bank of Canada reduced their price target on shares of Altice USA from $40.00 to $35.00 and set an outperform rating on the stock in a research report on Tuesday, November 14th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $31.71.
Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. equities research analysts predict that Altice USA will post 0.13 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of ATUS. Bank of New York Mellon Corp bought a new stake in shares of Altice USA in the third quarter worth $1,346,000. Lucerne Capital Management LP bought a new stake in shares of Altice USA in the fourth quarter worth $129,721,000. Gabelli Funds LLC increased its stake in shares of Altice USA by 35.6% in the fourth quarter. Gabelli Funds LLC now owns 137,000 shares of the company’s stock worth $2,909,000 after buying an additional 36,000 shares during the last quarter. Harbor Advisors LLC bought a new stake in shares of Altice USA in the fourth quarter worth $531,000. Finally, Pelham Capital Ltd. increased its stake in shares of Altice USA by 54.9% in the fourth quarter. Pelham Capital Ltd. now owns 2,555,474 shares of the company’s stock worth $54,253,000 after buying an additional 905,474 shares during the last quarter. Institutional investors own 16.08% of the company’s stock.
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Altice USA Company Profile
Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.
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