TD Securities slashes price target on Altice USA Inc. [ATUS] – find out why.

Altice USA Inc. [NYSE: ATUS] plunged by -$0.2 during the normal trading session on Wednesday and reaching a high of $3.46 during the day while it closed the day at $3.26. The company report on March 22, 2023 that The Altice USA Board of Directors Announces the Appointment of Alexandre Fonseca as a Director and Chairman of the Board.

Altice USA (NYSE: ATUS) announces today that its Board of Directors has named a new member, Alexandre Fonseca, who will serve as Chairman of the Board. Mr. Fonseca currently serves as Co-Chief Executive Officer of Altice Group in Europe. He succeeds Dexter Goei who steps down as Executive Chairman. Mr. Goei remains a director of the board.

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“I’m honored to take on this role at such an important time at Altice USA,” said Mr. Fonseca. “The company today finds itself in a position of strength thanks to the stewardship of CEO Dennis Mathew and his leadership team, and I look forward to working with him and my fellow directors to capitalize on this momentum and further accelerate the value we provide to our employees, customers and shareholders.”.

Altice USA Inc. stock has also loss -8.68% of its value over the past 7 days. However, ATUS stock has declined by -16.20% in the 3 months of the year. Over the past six months meanwhile, it has lost -58.94% and lost -29.13% year-on date.

The market cap for ATUS stock reached $1.49 billion, with 456.07 million shares outstanding and 206.39 million shares in the current float. Compared to the average trading volume of 4.08M shares, ATUS reached a trading volume of 5638850 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Altice USA Inc. [ATUS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATUS shares is $7.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATUS stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Securities have made an estimate for Altice USA Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 23, 2023. While these analysts kept the previous recommendation, Goldman dropped their target price from $7 to $5. The new note on the price target was released on January 10, 2023, representing the official price target for Altice USA Inc. stock. Previously, the target price had yet another raise to $3.50, while BofA Securities analysts kept a Underperform rating on ATUS stock.

The Average True Range (ATR) for Altice USA Inc. is set at 0.26, with the Price to Sales ratio for ATUS stock in the period of the last 12 months amounting to 0.15. Price to Free Cash Flow for ATUS in the course of the last twelve months was 3.28 with Quick ratio for the last quarter at 0.60.

ATUS stock trade performance evaluation

Altice USA Inc. [ATUS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.68. With this latest performance, ATUS shares dropped by -21.26% in over the last four-week period, additionally sinking by -58.94% over the last 6 months – not to mention a drop of -72.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATUS stock in for the last two-week period is set at 33.73, with the RSI for the last a single of trading hit 31.56, and the three-weeks RSI is set at 36.00 for Altice USA Inc. [ATUS]. The present Moving Average for the last 50 days of trading for this stock 4.35, while it was recorded at 3.37 for the last single week of trading, and 6.66 for the last 200 days.

Altice USA Inc. [ATUS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Altice USA Inc. [ATUS] shares currently have an operating margin of +20.03 and a Gross Margin at +48.39. Altice USA Inc.’s Net Margin is presently recorded at +2.02.

Return on Total Capital for ATUS is now 7.39, given the latest momentum, and Return on Invested Capital for the company is 0.79. Additionally, ATUS Total Debt to Total Capital is recorded at 101.80, with Total Debt to Total Assets ending up at 77.84.

Reflecting on the efficiency of the workforce at the company, Altice USA Inc. [ATUS] managed to generate an average of $17,688 per employee. Receivables Turnover for the company is 24.82 with a Total Asset Turnover recorded at a value of 0.28.Altice USA Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Altice USA Inc. [ATUS]: Insider Ownership positions

There are presently around $829 million, or 59.80% of ATUS stock, in the hands of institutional investors. The top three institutional holders of ATUS stocks are: CLARKSTON CAPITAL PARTNERS, LLC with ownership of 35,252,350, which is approximately 1.767% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 23,264,129 shares of the stock with an approximate value of $75.84 million in ATUS stocks shares; and REDWOOD CAPITAL MANAGEMENT, LLC, currently with $49.84 million in ATUS stock with ownership of nearly 41.053% of the company’s market capitalization.

Positions in Altice USA Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 149 institutional holders increased their position in Altice USA Inc. [NYSE:ATUS] by around 59,704,034 shares. Additionally, 147 investors decreased positions by around 68,322,105 shares, while 36 investors held positions by with 126,394,713 shares. The mentioned changes placed institutional holdings at 254,420,852 shares, according to the latest SEC report filing. ATUS stock had 50 new institutional investments in for a total of 13,355,217 shares, while 69 institutional investors sold positions of 49,062,057 shares during the same period.


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