Altice USA (NYSE:ATUS) Shares Gap Up to $1.94

Altice USA, Inc. (NYSE:ATUS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $1.94, but opened at $2.00. Altice USA shares last traded at $1.94, with a volume of 762,961 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on ATUS. Evercore ISI reiterated an “in-line” rating and issued a $3.00 target price on shares of Altice USA in a research report on Tuesday, March 26th. BNP Paribas downgraded Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price for the company. in a research report on Tuesday, April 9th. UBS Group dropped their target price on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Finally, Wells Fargo & Company downgraded Altice USA from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $2.00 to $1.00 in a research report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Altice USA currently has a consensus rating of “Hold” and a consensus price target of $2.90.

Altice USA Stock Down 0.5 %

The firm has a 50 day moving average of $2.44 and a 200 day moving average of $2.55. The firm has a market cap of $880.31 million, a price-to-earnings ratio of 16.17 and a beta of 1.35.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.33). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.43) EPS. Equities analysts expect that Altice USA, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATUS. Comerica Bank boosted its holdings in Altice USA by 579.0% in the third quarter. Comerica Bank now owns 8,555 shares of the company’s stock worth $28,000 after acquiring an additional 7,295 shares in the last quarter. Ground Swell Capital LLC bought a new position in shares of Altice USA in the second quarter valued at approximately $30,000. Montag A & Associates Inc. bought a new position in shares of Altice USA in the fourth quarter valued at approximately $32,000. Equitable Holdings Inc. bought a new position in shares of Altice USA in the first quarter valued at approximately $34,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Altice USA in the third quarter valued at approximately $37,000. Institutional investors own 54.85% of the company’s stock.

About Altice USA

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.