Altice USA (NYSE:ATUS) Lowered to “Underperform” at BNP Paribas

Altice USA (NYSE:ATUS) was downgraded by research analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $1.00 price objective on the stock. BNP Paribas’ price objective would indicate a potential downside of 57.36% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $2.00 to $1.00 in a research report on Friday, April 5th. Evercore ISI reissued an “in-line” rating and set a $3.00 target price on shares of Altice USA in a research report on Tuesday, March 26th. UBS Group dropped their target price on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Finally, Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Altice USA presently has a consensus rating of “Hold” and an average price target of $2.90.

Altice USA Stock Performance

Shares of NYSE ATUS opened at $2.35 on Tuesday. Altice USA has a fifty-two week low of $1.75 and a fifty-two week high of $3.82. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 19.54 and a beta of 1.35. The firm’s 50-day simple moving average is $2.44 and its 200 day simple moving average is $2.59.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.33). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the business posted ($0.43) EPS. Altice USA’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Altice USA will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Altice USA

Several large investors have recently modified their holdings of ATUS. Bank of New York Mellon Corp increased its stake in shares of Altice USA by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 771,039 shares of the company’s stock worth $9,623,000 after purchasing an additional 37,677 shares during the last quarter. American Century Companies Inc. grew its stake in Altice USA by 22.7% in the 1st quarter. American Century Companies Inc. now owns 23,401 shares of the company’s stock valued at $292,000 after buying an additional 4,336 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in Altice USA by 35.6% in the 1st quarter. Cetera Advisor Networks LLC now owns 13,674 shares of the company’s stock valued at $171,000 after buying an additional 3,588 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Altice USA in the 1st quarter valued at approximately $351,000. Finally, MetLife Investment Management LLC purchased a new position in Altice USA in the 1st quarter valued at approximately $134,000. Hedge funds and other institutional investors 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.