Altice USA (NYSE:ATUS) Shares Gap Down to $2.42

Altice USA, Inc. (NYSE:ATUS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $2.42, but opened at $2.35. Altice USA shares last traded at $2.41, with a volume of 58,355 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on ATUS. Evercore ISI reduced their target price on 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 Altice USA from a “buy” rating to a “neutral” rating and dropped their price target for the stock 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 research report on Monday, July 1st. They issued a “sell” rating and a $2.00 price target on the stock. Six analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1.97.

Altice USA Stock Up 1.7 %

The business has a 50-day moving average price of $1.95 and a 200-day moving average price of $2.11. The firm has a market capitalization of $1.13 billion, a P/E ratio of 242.00, a PEG ratio of 2.71 and a beta of 1.51.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the company earned $0.17 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Altice USA, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Altice USA

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH lifted its stake in shares of Altice USA by 1.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,500,079 shares of the company’s stock valued at $4,875,000 after acquiring an additional 23,557 shares during the period. Capstone Investment Advisors LLC bought a new stake in Altice USA in the fourth quarter valued at about $146,000. CastleKnight Management LP increased its holdings in Altice USA by 676.6% in the fourth 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 last quarter. Apollo Management Holdings L.P. increased its holdings in Altice USA by 1.8% in the fourth quarter. Apollo Management Holdings L.P. now owns 2,181,533 shares of the company’s stock valued at $7,090,000 after purchasing an additional 38,398 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Altice USA in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.