Altice USA (NYSE:ATUS) Shares Down 4.4% Following Analyst Downgrade

Altice USA, Inc. (NYSE:ATUS) shares fell 4.4% during mid-day trading on Tuesday after Evercore ISI lowered their price target on the stock from $3.00 to $2.00. Evercore ISI currently has an in-line rating on the stock. Altice USA traded as low as $1.95 and last traded at $1.95. 1,604,961 shares were traded during trading, a decline of 53% from the average session volume of 3,428,454 shares. The stock had previously closed at $2.04.

ATUS has been the subject of several other research reports. Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. BNP Paribas cut shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price for the company. in a research note on Tuesday, April 9th. Loop Capital lowered their price target on Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on Altice USA in a research report on Monday. They issued a “sell” rating and a $2.00 price objective for the company. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.27.

Institutional Trading of Altice USA

Institutional investors and hedge funds have recently modified their holdings of the stock. Montag A & Associates Inc. bought a new position in shares of Altice USA during the 4th quarter valued at about $32,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA in the fourth quarter valued at approximately $47,000. Headlands Technologies LLC bought a new stake in shares of Altice USA during the first quarter worth $46,000. Alpine Global Management LLC bought a new stake in Altice USA in the 1st quarter valued at $65,000. Finally, Swedbank AB acquired a new position in Altice USA in the 1st quarter worth $66,000. 54.85% of the stock is owned by institutional investors.

Altice USA Stock Performance

The stock has a fifty day simple moving average of $2.21 and a 200-day simple moving average of $2.39. The stock has a market cap of $947.52 million, a P/E ratio of 206.00, a PEG ratio of 0.64 and a beta of 1.49.

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

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.