Altice USA, Inc. (NYSE:ATUS) Receives $2.41 Consensus PT from Analysts

Altice USA, Inc. (NYSE:ATUS) has received a consensus recommendation of “Reduce” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2.41.

Several equities analysts have recently weighed in on ATUS shares. Loop Capital lowered their price target on Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Evercore ISI restated an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. UBS Group cut their price target 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. Bank of America assumed coverage on Altice USA in a research note on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 price target for the company. Finally, Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of Altice USA in a report on Wednesday, March 20th.

Altice USA Stock Down 1.5 %

Shares of ATUS opened at $2.27 on Tuesday. The stock has a market cap of $1.04 billion, a P/E ratio of 226.50, a P/E/G ratio of 0.67 and a beta of 1.38. Altice USA has a 52 week low of $1.75 and a 52 week high of $3.82. The business’s 50 day moving average price is $2.26 and its 200-day moving average price is $2.39.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. On average, equities analysts anticipate that Altice USA will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Altice USA by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 725,627 shares of the company’s stock worth $2,373,000 after purchasing an additional 24,586 shares during the last quarter. Capula Management Ltd purchased a new position in Altice USA in the third quarter worth $1,055,000. Assenagon Asset Management S.A. grew its holdings in Altice USA by 159.7% in the third quarter. Assenagon Asset Management S.A. now owns 2,159,990 shares of the company’s stock worth $7,063,000 after purchasing an additional 1,328,364 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC lifted its stake in shares of Altice USA by 8.8% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 60,000 shares of the company’s stock worth $196,000 after buying an additional 4,872 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Altice USA by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,614 shares of the company’s stock valued at $4,047,000 after buying an additional 109,370 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.