Altice USA (NYSE:ATUS) Hits New 52-Week Low at $2.46

Altice USA, Inc. (NYSE:ATUS – Get Rating)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $2.46 and last traded at $2.46, with a volume of 520776 shares changing hands. The stock had previously closed at $2.67.

Wall Street Analyst Weigh In

ATUS has been the topic of several research analyst reports. Pivotal Research reduced their price target on shares of Altice USA from $4.50 to $3.00 in a research report on Friday, May 5th. Cowen reduced their price target on shares of Altice USA from $21.00 to $18.00 in a research report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Altice USA from $4.50 to $4.75 in a research report on Friday, May 5th. TheStreet cut shares of Altice USA from a “c-” rating to a “d” rating in a research report on Monday, May 1st. Finally, Morgan Stanley reduced their price target on shares of Altice USA from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.42.

Altice USA Price Performance

The stock has a fifty day moving average price of $3.02 and a two-hundred day moving average price of $3.94. The company has a market cap of $1.06 billion, a P/E ratio of 46.81, a PEG ratio of 0.63 and a beta of 1.37.

Altice USA (NYSE:ATUS – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Altice USA had a negative return on equity of 16.96% and a net margin of 0.25%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, analysts forecast that Altice USA, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

A number of hedge funds have recently made changes to their positions in the business. Clarkston Capital Partners LLC raised its holdings in shares of Altice USA by 10.4% during the third quarter. Clarkston Capital Partners LLC now owns 34,640,405 shares of the company’s stock valued at $201,954,000 after buying an additional 3,274,383 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Altice USA by 11.7% during the first quarter. Vanguard Group Inc. now owns 22,253,606 shares of the company’s stock valued at $277,725,000 after acquiring an additional 2,324,303 shares during the period. BlackRock Inc. increased its stake in shares of Altice USA by 1.6% during the first quarter. BlackRock Inc. now owns 16,302,827 shares of the company’s stock valued at $203,460,000 after acquiring an additional 263,465 shares during the period. AQR Capital Management LLC increased its stake in shares of Altice USA by 33.8% during the first quarter. AQR Capital Management LLC now owns 16,153,169 shares of the company’s stock valued at $51,367,000 after acquiring an additional 4,083,604 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Altice USA by 916.5% during the first quarter. Bank of America Corp DE now owns 10,064,744 shares of the company’s stock valued at $34,421,000 after acquiring an additional 9,074,653 shares during the period. Institutional investors own 57.41% of the company’s stock.

About Altice USA

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Altice USA, Inc engages in the provision of broadband, pay television, telephony services, proprietary content, and advertising services. Its brands include Optimum, Suddenlink, Optimum Mobile, Altice Business, News 12 Networks, Cheddar News, a4 Advertising, and i24 News. The company was founded by Patrick Drahi in 2001 and is headquartered in Long Island City, NY.