Altice USA (NYSE:ATUS) Shares Gap Down – Time to Sell?

Altice USA, Inc. (NYSE:ATUS) shares gapped down prior to trading on Friday . The stock had previously closed at $2.39, but opened at $2.34. Altice USA shares last traded at $2.37, with a volume of 117,940 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ATUS shares. 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. UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd. Finally, Evercore ISI reduced their target price on Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a report on Tuesday, July 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Altice USA currently has an average rating of “Hold” and a consensus target price of $1.97.

Altice USA Trading Down 0.4 %

The firm has a 50 day simple moving average of $2.10 and a 200 day simple moving average of $2.11. The firm has a market capitalization of $1.09 billion, a PE ratio of 237.00, a P/E/G ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last announced its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.25 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. Altice USA’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. Research analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in Altice USA in the second quarter worth approximately $25,000. Quadrature Capital Ltd purchased a new stake in Altice USA in the fourth quarter valued at $47,000. Headlands Technologies LLC acquired a new position in shares of Altice USA in the first quarter worth about $46,000. Alpine Global Management LLC acquired a new position in shares of Altice USA during the 1st quarter worth about $65,000. Finally, Swedbank AB acquired a new stake in Altice USA in the 1st quarter valued at about $66,000. Hedge funds and other 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.