Altice USA (NYSE:ATUS) Sets New 12-Month Low After Analyst Downgrade

Shares of Altice USA, Inc. (NYSE:ATUS) hit a new 52-week low on Thursday after Citigroup lowered their price target on the stock from $3.25 to $2.75. Citigroup currently has a buy rating on the stock. Altice USA traded as low as $1.82 and last traded at $1.8250, with a volume of 1233907 shares traded. The stock had previously closed at $1.96.

A number of other equities research analysts have also recently commented on the company. Evercore ISI set a $2.50 target price on Altice USA in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Altice USA in a research note on Wednesday, October 8th. Zacks Research cut shares of Altice USA from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Barclays dropped their target price on shares of Altice USA from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Finally, The Goldman Sachs Group began coverage on shares of Altice USA in a research report on Tuesday, September 2nd. They issued a “sell” rating and a $2.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $2.55.

Institutional Investors Weigh In On Altice USA

A number of large investors have recently modified their holdings of the stock. DoubleLine ETF Adviser LP acquired a new stake in shares of Altice USA during the first quarter worth $29,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Altice USA during the 3rd quarter valued at $27,000. May Hill Capital LLC purchased a new stake in shares of Altice USA in the second quarter valued at $29,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Altice USA by 50.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,300 shares of the company’s stock worth $39,000 after buying an additional 5,156 shares during the period. Finally, R Squared Ltd grew its holdings in shares of Altice USA by 56.0% during the first quarter. R Squared Ltd now owns 15,490 shares of the company’s stock valued at $41,000 after buying an additional 5,560 shares in the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Stock Down 7.9%

The firm has a 50-day moving average of $2.35 and a two-hundred day moving average of $2.38. The stock has a market capitalization of $845.91 million, a price-to-earnings ratio of -0.46 and a beta of 1.63.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, November 6th. The company reported ($3.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.13 billion. Altice USA’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. As a group, sell-side analysts predict that Altice USA, Inc. will post -0.24 EPS for the current 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.