Altice USA, Inc. (NYSE:ATUS) Receives Average Recommendation of “Reduce” from Brokerages

Altice USA, Inc. (NYSE:ATUS) has received a consensus recommendation of “Reduce” from the ten ratings firms that are currently covering the company, Marketbeat.com 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 target price among brokers that have issued a report on the stock in the last year is $1.97.

Several research firms have weighed in on ATUS. Evercore ISI cut their target price on Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on shares of Altice USA in a research report on Monday, July 1st. They set a “sell” rating and a $2.00 price target on the stock. Finally, UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd.

Institutional Trading of Altice USA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in Altice USA in the 4th quarter worth about $47,000. Nomura Holdings Inc. lifted its position in Altice USA by 343.0% during the fourth quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock worth $995,000 after purchasing an additional 236,933 shares during the period. SG Americas Securities LLC raised its position in shares of Altice USA by 45.2% in the 1st quarter. SG Americas Securities LLC now owns 58,098 shares of the company’s stock valued at $152,000 after buying an additional 18,080 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Altice USA in the first quarter valued at approximately $1,914,000. Finally, Headlands Technologies LLC bought a new stake in Altice USA during the first quarter worth $46,000. Institutional investors own 54.85% of the company’s stock.

Altice USA Stock Performance

ATUS opened at $2.39 on Friday. The firm’s 50-day simple moving average is $2.10 and its 200-day simple moving average is $2.11. Altice USA has a twelve month low of $1.52 and a twelve month high of $3.66. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 239.00, a PEG ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.03 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 for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the company earned $0.17 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Altice USA will post 0.1 EPS for the current fiscal year.

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.