Altice USA (NYSE:ATUS) Shares Down 4.4% Following Analyst Downgrade

Altice USA, Inc. (NYSE:ATUS)’s share price traded down 4.4% during trading on Tuesday after Evercore ISI lowered their price target on the stock from $3.00 to $2.00. Evercore ISI currently has an in-line rating on the stock. Altice USA traded as low as $1.95 and last traded at $1.95. 1,604,961 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 3,428,454 shares. The stock had previously closed at $2.04.

ATUS has been the subject of several other research reports. Wells Fargo & Company lowered shares of Altice USA from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $2.00 to $1.00 in a research note on Friday, April 5th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. Loop Capital reduced their price objective on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Altice USA in a report on Monday. They issued a “sell” rating and a $2.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Altice USA presently has an average rating of “Hold” and a consensus price target of $2.27.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Montag A & Associates Inc. acquired a new stake in shares of Altice USA during the 4th quarter valued at about $32,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Altice USA during the 3rd quarter valued at about $37,000. Headlands Technologies LLC acquired a new stake in shares of Altice USA during the 1st quarter valued at about $46,000. Quadrature Capital Ltd acquired a new stake in shares of Altice USA during the 4th quarter valued at about $47,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Altice USA during the 1st quarter valued at about $65,000. Institutional investors own 54.85% of the company’s stock.

Altice USA Stock Performance

The firm’s 50-day moving average price is $2.21 and its two-hundred day moving average price is $2.40. The firm has a market capitalization of $929.12 million, a price-to-earnings ratio of 203.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.49.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $0.06 earnings per share. Altice USA’s revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Altice USA, Inc. will post 0.17 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.