Altice USA (NYSE:ATUS) Downgraded to “Reduce” at HSBC

HSBC downgraded shares of Altice USA (NYSE:ATUS) from a buy rating to a reduce rating in a research report released on Thursday, MarketBeat.com reports. They currently have $1.20 price target on the stock, down from their prior price target of $4.00.

Separately, Morgan Stanley reaffirmed an equal weight rating and set a $3.00 price objective on shares of Altice USA in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $4.84.

Altice USA Stock Performance

NYSE ATUS opened at $2.18 on Thursday. The stock’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $2.97. Altice USA has a 1-year low of $2.01 and a 1-year high of $5.57.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. Altice USA had a negative return on equity of 16.96% and a negative net margin of 0.24%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Altice USA will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its position in Altice USA by 9.6% in the second quarter. LPL Financial LLC now owns 20,815 shares of the company’s stock valued at $193,000 after buying an additional 1,830 shares during the last quarter. First Republic Investment Management Inc. boosted its position in shares of Altice USA by 10.2% during the 1st quarter. First Republic Investment Management Inc. now owns 21,131 shares of the company’s stock worth $264,000 after purchasing an additional 1,953 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Altice USA by 2.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 107,242 shares of the company’s stock valued at $493,000 after purchasing an additional 2,249 shares during the last quarter. Covestor Ltd raised its position in Altice USA by 798.9% in the first quarter. Covestor Ltd now owns 3,353 shares of the company’s stock valued at $42,000 after purchasing an additional 2,980 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake 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 purchasing an additional 3,200 shares in the last quarter. 54.59% of the stock is currently owned by institutional investors and hedge funds.

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.