Altice USA (NYSE:ATUS) PT Lowered to $2.00

Altice USA (NYSE:ATUS) had its price objective decreased by equities researchers at Evercore ISI from $3.00 to $2.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential downside of 2.91% from the company’s current price.

ATUS has been the subject of a number of other reports. Loop Capital lowered their target price on Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Altice USA in a research note on Thursday, April 11th. The Goldman Sachs Group assumed coverage on shares of Altice USA in a research note on Monday. They issued a “sell” rating and a $2.00 price target for the company. Finally, Bank of America began coverage on shares of Altice USA in a research report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 price objective on the stock. Six research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.27.

Altice USA Stock Up 2.0 %

ATUS opened at $2.06 on Tuesday. Altice USA has a twelve month low of $1.75 and a twelve month high of $3.82. The company has a fifty day moving average of $2.21 and a 200-day moving average of $2.39. The stock has a market cap of $947.52 million, a PE ratio of 206.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.49.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Altice USA had a negative return on equity of 1.54% and a net margin of 0.07%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business posted $0.06 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. Sell-side analysts anticipate that Altice USA will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

A number of institutional investors and hedge funds have recently bought and sold shares of ATUS. Swedbank AB bought a new position in shares of Altice USA during the 1st quarter worth approximately $66,000. Apollo Management Holdings L.P. lifted its holdings in Altice USA by 4.6% during the first quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock worth $5,955,000 after acquiring an additional 100,000 shares during the period. Alpine Global Management LLC bought a new stake in Altice USA during the first quarter worth $65,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in Altice USA by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock worth $1,193,000 after purchasing an additional 53,158 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in Altice USA in the 1st quarter valued at $687,000. 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.