After TD Securities and Citigroup gave Altice Usa (NYSE: ATUS) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Frank Louthan maintained a Buy rating on Altice Usa today. The company’s shares closed last Wednesday at $28.65.
According to TipRanks.com, Louthan is a 4-star analyst with an average return of 3.7% and a 59.8% success rate. Louthan covers the Technology sector, focusing on stocks such as GTT Communications, GDS Holdings, and Verizon.
Currently, the analyst consensus on Altice Usa is a Strong Buy with an average price target of $34.33.
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Based on Altice Usa’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.45 billion and GAAP net loss of $858K. In comparison, last year the company earned revenue of $2.45 billion and had a net profit of $86.37 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ATUS in relation to earlier this year.
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Altice USA, Inc. engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Lightpath, AMS, News 12 Networks, and News 12 Varsity. The company operates through the Cablevision and Cequel business segments. Altice USA was founded by Patrick Drahi in 2001 and is headquartered in Long Island City, NY.