Altice USA, Inc. (NYSE:ATUS – Get Free Report) fell 4.4% during mid-day trading on Tuesday after Evercore ISI lowered their price target on the stock from $3.00 to $2.00. Evercore ISI currently has an in-line rating on the stock. Altice USA traded as low as $1.95 and last traded at $1.95. 1,604,961 shares traded hands during trading, a decline of 53% from the average session volume of 3,428,454 shares. The stock had previously closed at $2.04.
A number of other research firms have also commented on ATUS. JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Wells Fargo & Company lowered shares of Altice USA from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $2.00 to $1.00 in a research report on Friday, April 5th. Benchmark restated a “buy” rating and issued a $5.00 price objective on shares of Altice USA in a research report on Wednesday, March 20th. Bank of America began coverage on shares of Altice USA in a research report on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 price objective for the company. Finally, BNP Paribas lowered shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective for the company. in a research report on Tuesday, April 9th. Six analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.27.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in ATUS. Montag A & Associates Inc. purchased a new position in shares of Altice USA during the fourth quarter worth approximately $32,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Altice USA in the third quarter worth $37,000. Headlands Technologies LLC purchased a new position in shares of Altice USA in the first quarter worth $46,000. Quadrature Capital Ltd purchased a new position in shares of Altice USA in the fourth quarter worth $47,000. Finally, Alpine Global Management LLC purchased a new position in shares of Altice USA in the first quarter worth $65,000. 54.85% of the stock is owned by hedge funds and other institutional investors.
Altice USA Price Performance
The firm’s 50 day moving average is $2.21 and its 200 day moving average is $2.40. The company has a market capitalization of $929.12 million, a PE ratio of 203.00, a P/E/G ratio of 0.64 and a beta of 1.49.
Altice USA (NYSE:ATUS – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). Altice USA had a negative return on equity of 1.54% and a net margin of 0.07%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, analysts predict that Altice USA, Inc. will post 0.17 EPS for the current fiscal year.
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.