Altice USA (NYSE:ATUS) Shares Gap Down – Should You Sell?

Altice USA, Inc. (NYSE:ATUS) gapped down prior to trading on Friday . The stock had previously closed at $2.39, but opened at $2.34. Altice USA shares last traded at $2.37, with a volume of 117,940 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ATUS shares. UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Altice USA in a report on Monday, July 1st. They issued a “sell” rating and a $2.00 price target on the stock. Finally, 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 report on Tuesday, July 2nd. Six research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.97.

Altice USA Stock Down 3.3 %

The firm has a market capitalization of $1.06 billion, a P/E ratio of 231.00, a PEG ratio of 3.27 and a beta of 1.53. The business’s 50-day simple moving average is $2.12 and its 200 day simple moving average is $2.10.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. Altice USA’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. Sell-side analysts predict that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. King Street Capital Management L.P. purchased a new stake in shares of Altice USA during the second quarter valued at approximately $5,100,000. Empyrean Capital Partners LP purchased a new position in shares of Altice USA in the second quarter valued at about $4,080,000. Susquehanna Fundamental Investments LLC bought a new stake in Altice USA in the first quarter valued at $1,914,000. Aristeia Capital L.L.C. purchased a new position in Altice USA during the 2nd quarter valued at $657,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Altice USA during the 1st quarter valued at about $687,000. 54.85% of the stock is currently 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.