Altice USA (NYSE:ATUS) Trading Down 3.6%

Altice USA, Inc. (NYSE:ATUS)’s stock price was down 3.6% during trading on Monday . The company traded as low as $2.11 and last traded at $2.12. Approximately 75,031 shares were traded during trading, a decline of 98% from the average daily volume of 3,558,822 shares. The stock had previously closed at $2.20.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ATUS. Evercore ISI cut their price target on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. UBS Group cut shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price target for the company. Six analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Altice USA currently has a consensus rating of “Hold” and a consensus target price of $1.97.

Altice USA Stock Performance

The firm has a fifty day simple moving average of $1.83 and a 200 day simple moving average of $2.16. The company has a market cap of $900.43 million, a PE ratio of 195.50, a PEG ratio of 2.83 and a beta of 1.51.

Altice USA (NYSE:ATUS) last released its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted $0.17 earnings per share. Altice USA’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Trading of Altice USA

Several institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Altice USA in the 2nd quarter worth $25,000. Headlands Technologies LLC purchased a new position in shares of Altice USA in the 1st quarter worth about $46,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA in the 4th quarter valued at about $47,000. Alpine Global Management LLC purchased a new stake in shares of Altice USA during the 1st quarter worth about $65,000. Finally, Swedbank AB acquired a new stake in Altice USA during the 1st quarter worth approximately $66,000. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.