Altice USA, Inc. (NYSE:ATUS) Given Average Recommendation of “Reduce” by Analysts

Altice USA, Inc. (NYSE:ATUS) has been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $2.55.

A number of brokerages have recently commented on ATUS. Barclays lowered their price target on shares of Altice USA from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Altice USA in a report on Wednesday, October 8th. Zacks Research downgraded shares of Altice USA from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. The Goldman Sachs Group assumed coverage on shares of Altice USA in a research report on Tuesday, September 2nd. They set a “sell” rating and a $2.00 price target for the company. Finally, Citigroup cut their price target on shares of Altice USA from $3.25 to $2.75 and set a “buy” rating on the stock in a research note on Wednesday, November 12th.

Institutional Trading of Altice USA

A number of institutional investors have recently modified their holdings of ATUS. DoubleLine ETF Adviser LP purchased a new position in Altice USA in the first quarter valued at approximately $29,000. Swiss Life Asset Management Ltd purchased a new stake in Altice USA during the 3rd quarter worth $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Altice USA during the 3rd quarter worth $27,000. Voleon Capital Management LP acquired a new stake in Altice USA in the 3rd quarter valued at $31,000. Finally, May Hill Capital LLC purchased a new position in Altice USA in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Price Performance

Shares of ATUS opened at $1.79 on Wednesday. Altice USA has a 1-year low of $1.74 and a 1-year high of $3.20. The stock has a market cap of $841.00 million, a price-to-earnings ratio of -0.45 and a beta of 1.63. The firm has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $2.26.

Altice USA (NYSE:ATUS) last announced its earnings results on Thursday, November 6th. The company reported ($3.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted ($0.09) EPS. The business’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts expect that Altice USA will post -0.24 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.