Altice USA (NYSE:ATUS) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Altice USA (NYSE:ATUS) in a report released on Monday morning, MarketBeat.com reports. The brokerage issued a sell rating and a $2.00 price objective on the stock.

Several other equities analysts also recently weighed in on the stock. Evercore ISI reiterated an in-line rating and issued a $3.00 target price on shares of Altice USA in a research note on Tuesday, March 26th. Wells Fargo & Company downgraded shares of Altice USA from an equal weight rating to an underweight rating and reduced their target price for the stock from $2.00 to $1.00 in a research note on Friday, April 5th. Loop Capital reduced their target price on shares of Altice USA from $3.00 to $2.00 and set a hold rating for the company in a research note on Tuesday, April 23rd. Benchmark reaffirmed a buy rating and set a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. reaffirmed an underweight rating on shares of Altice USA in a research note on Thursday, April 11th. Six 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, the stock currently has a consensus rating of Hold and an average target price of $2.37.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.04 on Monday. The firm has a market cap of $936.02 million, a price-to-earnings ratio of 204.00, a P/E/G ratio of 0.64 and a beta of 1.49. Altice USA has a 52 week low of $1.75 and a 52 week high of $3.82. The firm’s 50-day simple moving average is $2.20 and its two-hundred day simple moving average is $2.40.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a negative return on equity of 1.54% and a net margin of 0.07%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Analysts forecast that Altice USA will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently bought and sold shares of ATUS. Charles Schwab Investment Management Inc. lifted its position in Altice USA by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,614 shares of the company’s stock valued at $4,047,000 after purchasing an additional 109,370 shares during the last quarter. FMR LLC lifted its holdings in shares of 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 acquiring an additional 29,995 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Altice USA in the 3rd quarter worth approximately $232,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Altice USA in the 3rd quarter worth approximately $37,000. Finally, Hudson Bay Capital Management LP lifted its holdings 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 worth $17,240,000 after acquiring an additional 823,530 shares during the last quarter. 54.85% of the stock is currently owned by 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.