Altice USA, Inc. (NYSE:ATUS) Receives $2.27 Average Price Target from Analysts

Shares of Altice USA, Inc. (NYSE:ATUS) have been assigned an average recommendation of “Reduce” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Six 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. The average 12 month price target among brokers that have issued a report on the stock in the last year is $2.27.

A number of equities research analysts have recently weighed in on ATUS shares. Loop Capital dropped their price objective on Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Bank of America initiated 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. Evercore ISI decreased their price target on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price target for the company. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th.

Altice USA Stock Performance

Shares of Altice USA stock opened at $2.04 on Wednesday. Altice USA has a one year low of $1.75 and a one year high of $3.82. The company has a market cap of $938.32 million, a price-to-earnings ratio of 204.00, a PEG ratio of 0.71 and a beta of 1.49. The business’s 50 day moving average price is $2.20 and its 200 day moving average price is $2.36.

Altice USA (NYSE:ATUS) last posted its earnings results 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). Altice USA had a negative return on equity of 1.54% and a net margin of 0.07%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $0.06 EPS. Altice USA’s revenue was down 1.9% compared to the same quarter last year. On average, analysts predict that Altice USA will post 0.17 EPS for the current fiscal year.

Institutional Trading of Altice USA

A number of hedge funds have recently added to or reduced their stakes in ATUS. Montag A & Associates Inc. acquired a new stake in Altice USA during the 4th quarter worth approximately $32,000. Headlands Technologies LLC purchased a new position in shares of Altice USA during the 1st quarter worth approximately $46,000. Quadrature Capital Ltd purchased a new position in shares of Altice USA during the 4th quarter worth approximately $47,000. Alpine Global Management LLC purchased a new position in shares of Altice USA during the 1st quarter worth approximately $65,000. Finally, Swedbank AB purchased a new position in shares of Altice USA during the 1st quarter worth approximately $66,000. 54.85% of the stock is 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.