Altice USA (NYSE:ATUS) Price Target Cut to $2.00

Altice USA (NYSE:ATUS) had its target price reduced by Evercore ISI from $3.00 to $2.00 in a report published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the stock.

A number of other research firms have also weighed in on ATUS. Benchmark reissued a buy rating and set a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. Bank of America assumed coverage on Altice USA in a research note on Wednesday, April 24th. They set an underperform rating and a $1.50 price objective on the stock. BNP Paribas downgraded Altice USA from a neutral rating to an underperform rating and set a $1.00 target price on the stock. in a research report on Tuesday, April 9th. The Goldman Sachs Group assumed coverage on Altice USA in a research report on Monday. They issued a sell rating and a $2.00 target price on the stock. Finally, Loop Capital reduced their target price on Altice USA from $3.00 to $2.00 and set a hold rating on the stock in a research report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $2.27.

Altice USA Price Performance

Shares of NYSE:ATUS opened at $2.06 on Tuesday. The business’s 50 day moving average price is $2.21 and its 200-day moving average price is $2.39. The firm has a market capitalization of $947.52 million, a PE ratio of 206.00, a P/E/G ratio of 0.62 and a beta of 1.49. Altice USA has a 1 year low of $1.75 and a 1 year high of $3.82.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a net margin of 0.07%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. As a group, analysts expect that Altice USA will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATUS. Charles Schwab Investment Management Inc. grew its holdings in shares of Altice USA by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,614 shares of the company’s stock valued at $4,047,000 after purchasing an additional 109,370 shares in the last quarter. FMR LLC grew its holdings in Altice USA by 0.6% during the 3rd quarter. FMR LLC now owns 4,767,457 shares of the company’s stock worth $15,590,000 after acquiring an additional 29,995 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Altice USA during the 3rd quarter worth approximately $232,000. Sherbrooke Park Advisers LLC acquired a new position in Altice USA during the 3rd quarter worth approximately $37,000. Finally, Hudson Bay Capital Management LP grew its holdings in Altice USA by 18.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock worth $17,240,000 after acquiring an additional 823,530 shares in the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Company Profile

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.