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Altice USA, Inc. (ATUS)

NYSE - NYSE Delayed Price. Currency in USD
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27.10-0.54 (-1.95%)
At close: 4:00PM EDT
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Previous Close27.64
Bid27.10 x 3000
Ask0.00 x 1400
Day's Range26.81 - 27.60
52 Week Range15.95 - 31.78
Avg. Volume5,861,947
Market Cap15.712B
Beta (5Y Monthly)0.97
PE Ratio (TTM)90.64
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateJun 07, 2018
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Were Hedge Funds Right About Crowding Into Altice USA, Inc. (ATUS)?
    Insider Monkey

    Were Hedge Funds Right About Crowding Into Altice USA, Inc. (ATUS)?

    How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]

  • Cogeco Top Holder Rejects Altice’s Sweetened $8.4B Buyout Deal

    Cogeco Top Holder Rejects Altice’s Sweetened $8.4B Buyout Deal

    Altice’s C$11.1 billion ($8.43 billion) sweetened offer to buy Cogeco was rebuffed by the Canadian cable’s company’s top holder, the Audet family.In a statement on Oct. 18, Altice (ATUS) announced a revised offer to acquire 100% of the issued and outstanding shares of Cogeco. The enhanced buyout proposal included C$900 million ($682 million) to the Audet family for their ownership interests up from C$800 million offered previously.All the multiple voting shares of Cogeco are controlled by Louis Audet and members of the Audet family. “Given the position of the controlling shareholder, its support is necessary to complete a transaction, and as such the Altice offer includes a sizeable premium on those shares,” Altice said."As we did on September 2nd, 2020, following the announcement of their first unsolicited proposal, members of the Audet family unanimously reject this further proposal,” said Louis Audet, President of Gestion Audem. “Since this is apparently not registering with Rogers and Altice, we repeat today that this is not a negotiating strategy, but a definitive refusal. We are not interested in selling our shares."Gestion Audem is controlled by members of the Audet family and holds 69% of all voting rights of Cogeco, which in turn controls 82.9% of all voting rights of Cogeco Communications.Altice had also revised its arrangement with the largest long-term shareholder of Cogeco, Rogers Communications to sell all the Canadian assets of Cogeco at an adjusted net price of C$5.2 billion. Upon completion of the deal, Altice would own all the US assets (Atlantic Broadband) of Cogeco, and Rogers would own the Canadian assets. If however by Nov. 18, Altice is unable to reach a mutually satisfactory agreement, it will withdraw the revised offer.Altice provides cable TV services to 5 million customers in 21 states. The company owns several cable broadcast brands, and operates both local and international news networks. (See Altice stock analysis on TipRanks)ATUS shares, which are up 4.7% so far this year, score a unanimous Strong Buy analyst consensus based on 10 Buys. The $35.56 average price target implies 24% upside potential to current levels.Bernstein analyst Peter Supino earlier this month upgraded the stock to Buy from Hold with a $34 price target, calling ATUS a "cheap stock of a solid business" as "absolute and relative valuation multiples stand at all-time lows”.Supino noted that Altice’s "underlying fundamentals bottomed earlier in 2020" but he believes that Q3 results in early November will be a "positive step in the gradual process of rebuilding investor trust and engagement."Related News: GTT In $2.15B Deal To Sell Infrastructure Unit To I Squared; Shares Jump 7% First Citizens, CIT To Merge Into $100B US Regional Lender; Shares Spike Eli Lilly To Snap Up Disarm In $135M Deal; Street Stays Bullish More recent articles from Smarter Analyst: * United Airlines Adds 8 New Routes To Boost Latin America Presence * Nokia Picked By NASA For Moon’s First-Ever Cellular Network * CVS To Add 15,000 Workers To Meet Covid-19 Test Demand; Tigress Says Buy * VF Tops 2Q Estimates; Shares Decline

  • Altice USA's $8.4B Sweetened Takeover Bid Not Sweet Enough For Cogeco Owners

    Altice USA's $8.4B Sweetened Takeover Bid Not Sweet Enough For Cogeco Owners

    Canadian telecom firm Cogeco Communications Inc's (OTC: CGEAF) owners -- the Audet family -- rejected an enhanced hostile takeover attempt by Altice USA, Inc (NYSE: ATUS) on Sunday.What Happened: Louis Audet, the executive chairman of Cogeco, in a statement said that the family isn't interested in the $8.4 billion hostile bid made by Altice.Audet claimed that this is "not a negotiating strategy, but a definitive refusal."Patrick Drahi-owned Altice had offered $8.4 billion to acquire all outstanding shares of Cogeco, seeking to own all assets of the latter, including Atlantic Broadband.Under Altice's terms, the Canadian operations of Cogeco would be sold to Rogers Communications Inc (NYSE: RCI) at an adjusted net price of nearly $3.9 billion. Gestion Audem, the Audet family controlling company, holds 69% of all voting rights in Cogeco Inc, which in turn controls 82.9% of all rights in Cogeco Communications.Why It Matters: Drahi's attempts to take over Cogeco are said to be an effort to consolidate operations of Atlantic Broadband with Altice USA, so it can take on rivals such as Comcast Corporation (NASDAQ: CMCSA), Charter Communications (NASDAQ: CHTR) and Verizon Communications Inc (NYSE: VZ), the Financial Times reported.The Audet family was offered $682 million for their ownership interests by the U.S. company, as per a statement from Altice. The cable company also made an offer to pay nearly $93 and $113 respectively to subordinate voting shareholders in Cogeco and Cogeco Communications. Price Action: Altice USA shares closed 0.63% higher at $28.63 on Friday. See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * China Reports 4.9% GDP Growth In Q3, Missing Analyst Estimates * American Airlines Seeks To Relaunch Boeing 737 Max Flights In December(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.