Brokerages Set Altice USA, Inc. (NYSE:ATUS) Target Price at $1.97

Shares of Altice USA, Inc. (NYSE:ATUS) have been given a consensus rating of “Reduce” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $1.97.

A number of equities analysts recently commented on ATUS shares. The Goldman Sachs Group assumed coverage on shares of Altice USA in a research note on Monday, July 1st. They issued a “sell” rating and a $2.00 price objective for the company. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Finally, Evercore ISI decreased their price objective on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd.

Altice USA Price Performance

ATUS stock opened at $2.50 on Monday. Altice USA has a 1-year low of $1.52 and a 1-year high of $3.66. The business has a 50-day moving average price of $1.91 and a 200 day moving average price of $2.13. The company has a market capitalization of $1.15 billion, a P/E ratio of 250.00, a PEG ratio of 2.71 and a beta of 1.51.

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

Institutional Trading of Altice USA

A number of institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its stake in Altice USA by 265.9% in the second quarter. Point72 Asset Management L.P. now owns 150,000 shares of the company’s stock valued at $306,000 after buying an additional 109,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Altice USA by 80.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 62,285 shares of the company’s stock valued at $127,000 after purchasing an additional 27,725 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Altice USA in the 2nd quarter worth approximately $81,000. Empyrean Capital Partners LP purchased a new stake in Altice USA during the 2nd quarter worth approximately $4,080,000. Finally, Squarepoint Ops LLC acquired a new position in Altice USA during the 2nd quarter valued at approximately $183,000. 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.