Altice USA (NYSE:ATUS) Receives New Coverage from Analysts at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group initiated coverage on shares of Altice USA (NYSE:ATUS) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “sell” rating and a $2.00 price target on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 0.99% from the company’s current price.

Several other equities research analysts have also weighed in on ATUS. Wells Fargo & Company lowered 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 report on Friday, April 5th. Evercore ISI reiterated an “in-line” rating and set a $3.00 price target on shares of Altice USA in a report on Tuesday, March 26th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Bank of America started coverage on Altice USA in a report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 price target for the company. Finally, BNP Paribas lowered Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a report on Tuesday, April 9th. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Altice USA presently has a consensus rating of “Hold” and a consensus target price of $2.27.

Altice USA Trading Down 1.0 %

Shares of ATUS opened at $2.02 on Monday. Altice USA has a 1-year low of $1.75 and a 1-year high of $3.82. The business’s 50-day moving average price is $2.21 and its 200 day moving average price is $2.40. The stock has a market capitalization of $929.12 million, a P/E ratio of 203.00, a P/E/G ratio of 0.64 and a beta of 1.49.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The firm 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 company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. On average, research analysts predict that Altice USA will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Several hedge funds have recently added to or reduced their stakes in ATUS. Montag A & Associates Inc. acquired a new stake in shares of Altice USA during the fourth quarter worth about $32,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Altice USA during the third quarter worth about $37,000. Quadrature Capital Ltd acquired a new stake in shares of Altice USA during the fourth quarter worth about $47,000. Headlands Technologies LLC acquired a new stake in shares of Altice USA during the first quarter worth about $46,000. Finally, Alpine Global Management LLC bought a new position in shares of Altice USA during the first quarter worth about $65,000. Institutional investors and hedge funds 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.