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

Altice USA, Inc. (NYSE:ATUS) has been given an average recommendation of “Reduce” by the ten research firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $1.97.

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price target on the stock. Evercore ISI lowered their price target 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. Finally, UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and lowered their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd.

Institutional Trading of Altice USA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in Altice USA by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after buying an additional 24,501 shares in the last quarter. King Street Capital Management L.P. purchased a new stake in shares of Altice USA during the second quarter worth about $5,100,000. Apollo Management Holdings L.P. grew its position in shares of Altice USA by 4.6% during the first quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock worth $5,955,000 after purchasing an additional 100,000 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Altice USA during the second quarter worth about $4,080,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Altice USA during the first quarter worth about $1,914,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Stock Down 3.3 %

Shares of ATUS stock opened at $2.31 on Friday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 231.00, a PEG ratio of 3.27 and a beta of 1.53. The business’s fifty day moving average is $2.12 and its 200 day moving average is $2.10. Altice USA has a twelve month low of $1.52 and a twelve month high of $3.66.

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

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.