Altice USA (NYSE:ATUS) Shares Gap Down to $2.57

Altice USA, Inc. (NYSE:ATUS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $2.57, but opened at $2.38. Altice USA shares last traded at $2.33, with a volume of 1,151,168 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BNP Paribas upgraded shares of Altice USA from an “underperform” rating to a “neutral” rating in a research report on Tuesday, February 27th. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $2.00 to $1.00 in a research report on Friday. UBS Group reduced their price target 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. Evercore ISI restated an “in-line” rating and issued a $3.00 price target on shares of Altice USA in a research report on Tuesday, March 26th. Finally, Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of Altice USA in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Altice USA has an average rating of “Hold” and a consensus price target of $3.11.

Altice USA Price Performance

The firm has a market cap of $1.11 billion, a P/E ratio of 20.33 and a beta of 1.35. The stock’s 50-day simple moving average is $2.45 and its two-hundred day simple moving average is $2.62.

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

Institutional Trading of Altice USA

A number of large investors have recently made changes to their positions in the stock. LPL Financial LLC boosted its stake in shares of Altice USA by 9.6% during the second quarter. LPL Financial LLC now owns 20,815 shares of the company’s stock valued at $193,000 after purchasing an additional 1,830 shares during the period. First Republic Investment Management Inc. lifted its stake in Altice USA by 10.2% in the first quarter. First Republic Investment Management Inc. now owns 21,131 shares of the company’s stock worth $264,000 after acquiring an additional 1,953 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Altice USA by 2.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 107,242 shares of the company’s stock worth $493,000 after acquiring an additional 2,249 shares during the period. Covestor Ltd lifted its stake in Altice USA by 798.9% in the first quarter. Covestor Ltd now owns 3,353 shares of the company’s stock worth $42,000 after acquiring an additional 2,980 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in Altice USA by 9.7% in the first quarter. Gamco Investors INC. ET AL now owns 36,200 shares of the company’s stock worth $452,000 after acquiring an additional 3,200 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.