Analysts Set Altice USA, Inc. (NYSE:ATUS) Price Target at $2.68

Altice USA, Inc. (NYSE:ATUS) has received a consensus recommendation of “Reduce” from the ten ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $2.68.

A number of equities research analysts recently issued reports on ATUS shares. Loop Capital lowered their target price on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Evercore ISI reissued an “in-line” rating and set a $3.00 target price on shares of Altice USA in a research report on Tuesday, March 26th. UBS Group reduced their target price on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Bank of America started coverage on shares of Altice USA in a research report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 target price on the stock. Finally, Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $2.00 to $1.00 in a research report on Friday, April 5th.

Altice USA Price Performance

Shares of NYSE ATUS opened at $2.05 on Friday. Altice USA has a 12 month low of $1.75 and a 12 month high of $3.82. The company has a 50-day simple moving average of $2.41 and a 200-day simple moving average of $2.49. The company has a market cap of $935.05 million, a PE ratio of 17.08 and a beta of 1.35.

Altice USA (NYSE:ATUS) last released its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. Altice USA’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts anticipate that Altice USA will post 0.24 EPS for the current year.

Institutional Trading of Altice USA

Several institutional investors have recently added to or reduced their stakes in ATUS. Assenagon Asset Management S.A. increased its stake in Altice USA by 79.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock valued at $12,626,000 after purchasing an additional 1,724,851 shares during the last quarter. CastleKnight Management LP increased its stake in Altice USA by 676.6% during the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock valued at $4,744,000 after purchasing an additional 1,271,734 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in Altice USA by 18.5% during the third quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock valued at $17,240,000 after purchasing an additional 823,530 shares during the last quarter. LB Partners LLC bought a new stake in Altice USA during the fourth quarter valued at $1,636,000. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of Altice USA by 6.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock worth $22,264,000 after acquiring an additional 396,275 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

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.