Analysts Set Altice USA, Inc. (NYSE:ATUS) Price Target at $1.97

Shares of Altice USA, Inc. (NYSE:ATUS) have been given an average rating of “Reduce” by the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $1.97.

A number of equities research analysts recently commented on ATUS shares. Evercore ISI decreased their price target on Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group started coverage on Altice USA in a research report on Monday, July 1st. They set a “sell” rating and a $2.00 price target on the stock.

Altice USA Stock Down 1.1 %

Altice USA stock opened at $1.84 on Thursday. The business has a 50 day moving average price of $1.84 and a two-hundred day moving average price of $2.16. The stock has a market cap of $846.33 million, a price-to-earnings ratio of 184.00, a price-to-earnings-growth ratio of 0.66 and a beta of 1.48. Altice USA has a 12 month low of $1.52 and a 12 month high of $3.66.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company posted $0.17 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts expect that Altice USA will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its stake in shares of Altice USA by 265.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 150,000 shares of the company’s stock worth $306,000 after buying an additional 109,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Altice USA by 80.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 62,285 shares of the company’s stock worth $127,000 after acquiring an additional 27,725 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Altice USA during the second quarter worth approximately $81,000. Empyrean Capital Partners LP bought a new stake in shares of Altice USA during the second quarter worth approximately $4,080,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Altice USA in the second quarter valued at approximately $183,000. 54.85% of the stock is currently owned by institutional investors.

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.