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

Shares of Altice USA, Inc. (NYSE:ATUS) have earned a consensus rating of “Reduce” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $1.97.

ATUS has been the subject of a number of research reports. 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. UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.00 to $2.00 in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group assumed coverage on Altice USA in a report on Monday, July 1st. They issued a “sell” rating and a $2.00 target price on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. King Street Capital Management L.P. purchased a new stake in Altice USA in the 2nd quarter worth $5,100,000. Empyrean Capital Partners LP purchased a new stake in shares of Altice USA during the second quarter worth about $4,080,000. CastleKnight Management LP raised its stake in 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 purchasing an additional 1,271,734 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Altice USA in the 1st quarter worth approximately $1,914,000. Finally, Aristeia Capital L.L.C. purchased a new position in Altice USA in the 2nd quarter worth approximately $657,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Stock Performance

Altice USA stock opened at $2.50 on Monday. Altice USA has a one year low of $1.52 and a one year high of $3.66. The stock has a fifty day moving average of $1.92 and a 200 day moving average of $2.12. The stock has a market cap of $1.15 billion, a PE ratio of 250.00, a price-to-earnings-growth ratio of 2.71 and a beta of 1.51.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the company earned $0.17 EPS. Altice USA’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Altice USA will post 0.1 EPS for the current fiscal 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.