Altice USA’s (ATUS) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d-) rating on shares of Altice USA (NYSE:ATUS) in a report released on Wednesday morning,Weiss Ratings reports.

Separately, The Goldman Sachs Group started coverage on shares of Altice USA in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $2.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.00.

Altice USA Stock Performance

Shares of NYSE ATUS opened at $2.45 on Wednesday. The stock has a market cap of $1.15 billion, a P/E ratio of -4.22 and a beta of 1.59. The firm has a 50 day moving average price of $2.40 and a 200 day moving average price of $2.41. Altice USA has a 52-week low of $1.95 and a 52-week high of $3.20.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.15). The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. Analysts predict that Altice USA will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Large investors have recently modified their holdings of the stock. HG Vora Capital Management LLC bought a new position in shares of Altice USA during the 1st quarter valued at approximately $12,502,000. Hsbc Holdings PLC grew its position in Altice USA by 11.4% in the 1st quarter. Hsbc Holdings PLC now owns 99,025 shares of the company’s stock valued at $263,000 after acquiring an additional 10,139 shares during the last quarter. Bracebridge Capital LLC grew its position in Altice USA by 6.0% in the 1st quarter. Bracebridge Capital LLC now owns 9,390,440 shares of the company’s stock valued at $24,979,000 after acquiring an additional 535,463 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Altice USA in the 1st quarter valued at $81,000. Finally, Invesco Ltd. grew its position in Altice USA by 207.9% in the 1st quarter. Invesco Ltd. now owns 142,084 shares of the company’s stock valued at $378,000 after acquiring an additional 95,938 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

About Altice USA

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.