Altice USA Inc’s stock reached a new 52-week low, hitting 1.95 USD. This marks a significant milestone for the company, reflecting a challenging year in the market. With a market capitalization of just $926 million, InvestingPro data shows the telecom provider operates with a staggering $25.5 billion debt burden, creating significant financial pressure. Over the past 12 months, Altice USA has experienced a notable decline, with its stock price dropping by 24.71%. The recent low underscores the company’s ongoing struggles and the broader market conditions impacting its performance. According to InvestingPro data, the company is not profitable, reporting basic EPS of -$0.58 over the last twelve months despite generating $8.76 billion in revenue. Interestingly, the stock appears slightly undervalued compared to other undervalued stocks. Investors and analysts will be closely monitoring Altice USA’s strategies moving forward as the company navigates these turbulent times. Analyst targets for the stock range widely from $1 to $5.50, reflecting divided opinions on its recovery prospects. The company’s concerning current ratio of 0.33 indicates short-term obligations exceed liquid assets.
In other recent news, Altice-USA has been the subject of several key developments. Raymond James has reiterated its Outperform rating on Altice-USA stock, setting a price target of $3.50. Meanwhile, Goldman Sachs has downgraded Altice USA to a Sell rating, citing competitive pressures in the broadband market, with a price target of $2.00. In regulatory news, the New York Department of Public Service approved a reorganization related to an asset-backed securities transaction for Altice-USA, requiring no further action from the commission.
In France, Altice is exploring the sale of its SFR Business unit to reduce its debt, with potential bidders being briefed on the unit’s offerings. The sale could be valued at several billion euros. Additionally, creditors of Altice International have selected Houlihan Lokey as their financial adviser for upcoming debt negotiations, extending their cooperation agreement through March. Lastly, Altice International is considering a bid for its Israeli business, Hot Telecom, as part of its ongoing asset sales strategy.
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