Altice USA (NYSE:ATUS) Now Covered by Bank of America

Bank of America started coverage on shares of Altice USA (NYSE:ATUS) in a research note issued on Wednesday, StockNewsAPI reports. The brokerage set an “underperform” rating and a $1.50 price target on the stock. Bank of America‘s target price would suggest a potential downside of 23.08% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. BNP Paribas downgraded Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target on the stock. in a research note on Tuesday, April 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a research note on Thursday, April 11th. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Altice USA in a research note on Wednesday, March 20th. Evercore ISI reissued an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. Finally, UBS Group lowered their price objective on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.68.

Altice USA Stock Performance

ATUS stock opened at $1.95 on Wednesday. The stock’s 50 day simple moving average is $2.41 and its 200 day simple moving average is $2.51. Altice USA has a fifty-two week low of $1.75 and a fifty-two week high of $3.82. The company has a market cap of $889.43 million, a P/E ratio of 16.25 and a beta of 1.35.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company posted ($0.43) earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Altice USA will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Several institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its holdings in shares of Altice USA by 16.6% in the first quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock valued at $11,820,000 after acquiring an additional 643,731 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of Altice USA by 343.0% in the fourth quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock valued at $995,000 after acquiring an additional 236,933 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Altice USA in the fourth quarter valued at approximately $47,000. Readystate Asset Management LP grew its holdings in shares of Altice USA by 236.7% in the fourth quarter. Readystate Asset Management LP now owns 446,626 shares of the company’s stock valued at $1,452,000 after acquiring an additional 313,970 shares in the last quarter. Finally, Apollo Management Holdings L.P. grew its holdings in shares of Altice USA by 1.8% in the fourth quarter. Apollo Management Holdings L.P. now owns 2,181,533 shares of the company’s stock valued at $7,090,000 after acquiring an additional 38,398 shares in the last quarter. 54.85% of the stock is owned by institutional investors.

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.