Morgan Stanley Cuts Altice USA (NYSE:ATUS) Price Target to $13.00

Altice USA (NYSE:ATUSGet Rating) had its target price cut by equities researchers at Morgan Stanley from $15.00 to $13.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 16.28% from the stock’s previous close.

ATUS has been the subject of a number of other reports. UBS Group dropped their price target on shares of Altice USA from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 17th. Atlantic Securities cut shares of Altice USA from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $13.00 in a research note on Thursday, February 17th. Credit Suisse Group dropped their price target on shares of Altice USA from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, February 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Altice USA from $18.00 to $14.00 in a research note on Friday, February 18th. Finally, Benchmark dropped their price target on shares of Altice USA from $21.00 to $19.00 in a research note on Friday, April 29th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.04.

Shares of NYSE:ATUS opened at $11.18 on Thursday. Altice USA has a 52 week low of $8.67 and a 52 week high of $35.81. The stock has a market capitalization of $5.08 billion, a P/E ratio of 5.59, a PEG ratio of 0.35 and a beta of 1.20. The firm has a fifty day simple moving average of $11.09 and a two-hundred day simple moving average of $13.30.

Altice USA (NYSE:ATUSGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Altice USA had a net margin of 9.10% and a negative return on equity of 95.86%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the company posted $0.58 EPS. The business’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that Altice USA will post 1.46 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC raised its stake in shares of Altice USA by 34.4% during the 1st quarter. Advisory Services Network LLC now owns 26,200 shares of the company’s stock worth $327,000 after acquiring an additional 6,700 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Altice USA by 9.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 36,200 shares of the company’s stock worth $452,000 after acquiring an additional 3,200 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Altice USA by 67.9% during the 1st quarter. Quantbot Technologies LP now owns 31,446 shares of the company’s stock worth $392,000 after acquiring an additional 12,717 shares in the last quarter. Quinn Opportunity Partners LLC grew its position in Altice USA by 4.7% during the 1st quarter. Quinn Opportunity Partners LLC now owns 903,187 shares of the company’s stock worth $11,272,000 after purchasing an additional 40,500 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Altice USA by 41.2% during the 1st quarter. Royal Bank of Canada now owns 408,202 shares of the company’s stock worth $5,095,000 after purchasing an additional 119,205 shares during the last quarter. Hedge funds and other institutional investors own 54.30% of the company’s stock.

About Altice USA (Get Rating)

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 approximately five million 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.

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