Altice USA (NYSE:ATUS) Shares Gap Down to $2.04

Altice USA, Inc. (NYSE:ATUS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $2.04, but opened at $1.97. Altice USA shares last traded at $2.06, with a volume of 251,376 shares traded.

Wall Street Analysts Forecast Growth

ATUS has been the topic of several research analyst reports. BNP Paribas lowered Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective on the stock. in a research note on Tuesday, April 9th. The Goldman Sachs Group began coverage on shares of Altice USA in a research report on Monday. They issued a “sell” rating and a $2.00 price objective for the company. Loop Capital cut their target price on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Altice USA in a report on Wednesday, March 20th. Finally, Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $2.00 to $1.00 in a research note on Friday, April 5th. Six research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.27.

Altice USA Trading Down 1.0 %

The company has a market capitalization of $929.12 million, a price-to-earnings ratio of 202.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.49. The stock has a 50-day simple moving average of $2.21 and a 200-day simple moving average of $2.40.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. On average, research analysts forecast that Altice USA, Inc. will post 0.17 EPS for the current year.

Institutional Trading of Altice USA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Montag A & Associates Inc. bought a new stake in shares of Altice USA during the 4th quarter valued at about $32,000. Sherbrooke Park Advisers LLC bought a new position in shares of Altice USA during the third quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new stake in shares of Altice USA during the 1st quarter worth approximately $46,000. Quadrature Capital Ltd bought a new stake in shares of Altice USA in the 4th quarter worth approximately $47,000. Finally, Alpine Global Management LLC acquired a new position in Altice USA during the 1st quarter valued at approximately $65,000. 54.85% of the stock is owned by institutional investors.

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.