Loop Capital Lowers Altice USA (NYSE:ATUS) Price Target to $2.00

Altice USA (NYSE:ATUS) had its target price dropped by equities research analysts at Loop Capital from $3.00 to $2.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s target price suggests a potential upside of 2.04% from the company’s current price.

ATUS has been the topic of several other research reports. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Altice USA in a report on Wednesday, March 20th. BNP Paribas downgraded shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a research report on Tuesday, April 9th. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. Evercore ISI restated an “in-line” rating and issued a $3.00 target price on shares of Altice USA in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Five investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.68.

Altice USA Stock Performance

Altice USA stock opened at $1.96 on Tuesday. The firm has a market cap of $893.99 million, a price-to-earnings ratio of 16.33 and a beta of 1.35. Altice USA has a 1 year low of $1.75 and a 1 year high of $3.82. The firm’s 50 day moving average price is $2.42 and its two-hundred day moving average price is $2.51.

Altice USA (NYSE:ATUS) last released its quarterly earnings data 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). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.43) earnings per share. As a group, equities analysts predict that Altice USA will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Several institutional investors have recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC lifted its position in shares of Altice USA by 6.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock worth $22,264,000 after buying an additional 396,275 shares during the last quarter. Hudson Bay Capital Management LP raised its stake in shares of Altice USA by 18.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock valued at $17,240,000 after acquiring an additional 823,530 shares in the last quarter. FMR LLC lifted its holdings in Altice USA by 0.6% in the 3rd quarter. FMR LLC now owns 4,767,457 shares of the company’s stock worth $15,590,000 after purchasing an additional 29,995 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Altice USA by 16.6% during the first quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock worth $11,820,000 after purchasing an additional 643,731 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Altice USA by 6.0% during the third quarter. Federated Hermes Inc. now owns 2,877,879 shares of the company’s stock valued at $9,411,000 after purchasing an additional 162,545 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.