Altice USA (NYSE:ATUS) Shares Gap Down – What’s Next?

Altice USA, Inc. (NYSE:ATUS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $2.39, but opened at $2.34. Altice USA shares last traded at $2.37, with a volume of 117,940 shares trading hands.

Analyst Ratings Changes

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

Altice USA Trading Down 0.4 %

The company’s 50 day moving average price is $2.10 and its two-hundred day moving average price is $2.11. The stock has a market cap of $1.09 billion, a P/E ratio of 237.00, a PEG ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last posted its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Several large investors have recently modified their holdings of ATUS. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Altice USA in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new stake in Altice USA during the first quarter valued at about $46,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA during the fourth quarter worth about $47,000. Alpine Global Management LLC acquired a new position in shares of Altice USA in the first quarter worth about $65,000. Finally, Swedbank AB acquired a new position in shares of Altice USA in the first quarter worth about $66,000. 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.