Altice USA (NYSE:ATUS) Downgraded by UBS Group

UBS Group downgraded shares of Altice USA (NYSE:ATUS) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat.com reports. UBS Group currently has $2.00 price objective on the stock, down from their previous price objective of $4.00.

A number of other brokerages have also recently commented on ATUS. Evercore ISI cut their price target on shares of Altice USA from $3.00 to $2.00 and set an in-line rating for the company in a research note on Tuesday, July 2nd. Loop Capital dropped their price objective on shares of Altice USA from $3.00 to $2.00 and set a hold rating for the company in a report on Tuesday, April 23rd. The Goldman Sachs Group began coverage on shares of Altice USA in a research note on Monday, July 1st. They issued a sell rating and a $2.00 target price for the company. Wells Fargo & Company cut shares of Altice USA from an equal weight rating to an underweight rating and cut their target price for the company from $2.00 to $1.00 in a research note on Friday, April 5th. Finally, Bank of America began coverage on shares of Altice USA in a research note on Wednesday, April 24th. They issued an underperform rating and a $1.50 target price for the company. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Altice USA currently has an average rating of Hold and a consensus target price of $1.97.

Altice USA Stock Performance

NYSE ATUS opened at $1.79 on Friday. The stock has a market cap of $823.33 million, a PE ratio of 179.00, a PEG ratio of 0.66 and a beta of 1.48. Altice USA has a twelve month low of $1.55 and a twelve month high of $3.82. The firm has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $2.25.

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

Institutional Trading of Altice USA

Several institutional investors and hedge funds have recently made changes to their positions in ATUS. CastleKnight Management LP raised its position in shares of Altice USA by 676.6% during the 4th quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock valued at $4,744,000 after acquiring an additional 1,271,734 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Altice USA in the 1st quarter valued at $1,914,000. Assenagon Asset Management S.A. grew its holdings in shares of Altice USA by 16.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock valued at $11,820,000 after buying an additional 643,731 shares during the period. LB Partners LLC acquired a new position in shares of Altice USA in the 4th quarter valued at $1,636,000. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Altice USA by 6.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock valued at $22,264,000 after buying an additional 396,275 shares during the period. Institutional investors own 54.85% of the company’s stock.

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.