Altice USA, Inc. (NYSE:ATUS – Get Free Report)’s stock price was down 10.3% during mid-day trading on Tuesday . The stock traded as low as $2.49 and last traded at $2.53. Approximately 2,102,513 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 5,478,036 shares. The stock had previously closed at $2.82.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on ATUS shares. Benchmark reduced their price objective on Altice USA from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, December 29th. Evercore ISI reduced their price objective on Altice USA from $4.00 to $3.00 and set an “in-line” rating for the company in a research note on Thursday, February 15th. UBS Group reduced their price objective on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Wells Fargo & Company dropped their target price on Altice USA from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Finally, BNP Paribas raised Altice USA from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Altice USA currently has a consensus rating of “Hold” and an average target price of $3.22.
Altice USA Price Performance
The firm has a fifty day simple moving average of $2.53 and a 200 day simple moving average of $2.69. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 21.67 and a beta of 1.36.
Altice USA (NYSE:ATUS – Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.33). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted ($0.43) earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts predict that Altice USA, Inc. will post 0.25 EPS for the current year.
Institutional Trading of Altice USA
A number of institutional investors have recently made changes to their positions in the company. LPL Financial LLC boosted its stake in shares of Altice USA by 9.6% in the second quarter. LPL Financial LLC now owns 20,815 shares of the company’s stock worth $193,000 after acquiring an additional 1,830 shares during the last quarter. First Republic Investment Management Inc. lifted its position in Altice USA by 10.2% during the first quarter. First Republic Investment Management Inc. now owns 21,131 shares of the company’s stock worth $264,000 after buying an additional 1,953 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Altice USA by 2.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 107,242 shares of the company’s stock worth $493,000 after buying an additional 2,249 shares in the last quarter. Covestor Ltd lifted its position in Altice USA by 798.9% during the first quarter. Covestor Ltd now owns 3,353 shares of the company’s stock worth $42,000 after buying an additional 2,980 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Altice USA by 9.7% during the first quarter. Gamco Investors INC. ET AL now owns 36,200 shares of the company’s stock worth $452,000 after buying an additional 3,200 shares in the last quarter. 54.59% of the stock is owned by institutional investors and hedge funds.
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.