Altice Usa (ATUS) Receives a Hold from Wells Fargo

Wells Fargo analyst Steven Cahall maintained a Hold rating on Altice Usa (ATUSResearch Report) today and set a price target of $11.00. The company’s shares closed last Wednesday at $9.67, close to its 52-week low of $7.58.

According to TipRanks.com, Cahall is a 1-star analyst with an average return of -0.8% and a 48.0% success rate. Cahall covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Clear Channel Outdoor, and Sinclair Broadcast.

Currently, the analyst consensus on Altice Usa is a Moderate Buy with an average price target of $13.82.

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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 $2.42 billion and net profit of $197 million. In comparison, last year the company earned revenue of $2.48 billion and had a net profit of $274 million.

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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.

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