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

Altice USA, Inc. (NYSE:ATUS) has earned an average recommendation of “Reduce” from the ten analysts that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $1.97.

A number of research firms have issued reports on ATUS. UBS Group cut shares of 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 report on Friday, August 2nd. Evercore ISI reduced their target price on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group started coverage on shares of Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Altice USA by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock valued at $11,566,000 after buying an additional 24,501 shares in the last quarter. King Street Capital Management L.P. purchased a new position in shares of Altice USA during the 2nd quarter valued at approximately $5,100,000. Apollo Management Holdings L.P. lifted its position in shares of Altice USA by 4.6% during the 1st quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock valued at $5,955,000 after buying an additional 100,000 shares in the last quarter. Empyrean Capital Partners LP purchased a new position in shares of Altice USA during the 2nd quarter valued at approximately $4,080,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Altice USA during the 1st quarter valued at approximately $1,914,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Stock Up 3.6 %

Shares of ATUS opened at $2.45 on Friday. The company has a 50 day moving average of $2.16 and a two-hundred day moving average of $2.10. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 244.50, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53. Altice USA has a twelve month low of $1.52 and a twelve month high of $3.66.

Altice USA (NYSE:ATUS) last posted its quarterly 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). The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. On average, sell-side analysts expect that Altice USA will post 0.1 EPS 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.