Loop Capital Trims Altice USA (NYSE:ATUS) Target Price to $2.00

Altice USA (NYSE:ATUS) had its price objective lowered by Loop Capital from $3.00 to $2.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also issued reports about the company. UBS Group reduced their target price on Altice USA from $6.00 to $4.00 and set a buy rating on the stock in a report on Thursday, February 15th. Wells Fargo & Company lowered Altice USA from an equal weight rating to an underweight rating and reduced their target price for the stock from $2.00 to $1.00 in a report on Friday, April 5th. BNP Paribas lowered Altice USA from a neutral rating to an underperform rating and set a $1.00 target price on the stock. in a report on Tuesday, April 9th. JPMorgan Chase & Co. reissued an underweight rating on shares of Altice USA in a report on Thursday, April 11th. Finally, 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. Five equities 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 company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $2.68.

Altice USA Price Performance

Shares of NYSE ATUS opened at $2.06 on Tuesday. The stock’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.50. Altice USA has a one year low of $1.75 and a one year high of $3.82. The firm has a market cap of $937.33 million, a price-to-earnings ratio of 17.13 and a beta of 1.35.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the company earned ($0.43) earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Altice USA will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Several large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in Altice USA by 16.6% in the first quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock valued at $11,820,000 after purchasing an additional 643,731 shares during the last quarter. Nomura Holdings Inc. raised its position in Altice USA by 343.0% in the fourth quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock valued at $995,000 after purchasing an additional 236,933 shares during the last quarter. Quadrature Capital Ltd bought a new position in Altice USA in the fourth quarter valued at about $47,000. Readystate Asset Management LP raised its position in Altice USA by 236.7% in the fourth quarter. Readystate Asset Management LP now owns 446,626 shares of the company’s stock valued at $1,452,000 after purchasing an additional 313,970 shares during the last quarter. Finally, Apollo Management Holdings L.P. raised its position in shares of Altice USA by 1.8% during the fourth quarter. Apollo Management Holdings L.P. now owns 2,181,533 shares of the company’s stock worth $7,090,000 after acquiring an additional 38,398 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors.

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.