The Goldman Sachs Group Issues Positive Forecast for Altice USA (NYSE:ATUS) Stock Price

Altice USA (NYSE:ATUS) had its price target lifted by equities research analysts at The Goldman Sachs Group from $2.00 to $2.25 in a report released on Friday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 14.45% from the stock’s current price.

ATUS has been the topic of a number of other reports. Barclays upped their price target on Altice USA from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Friday. Raymond James raised shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.75.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.63 on Friday. The firm has a fifty day moving average of $2.48 and a 200-day moving average of $2.58. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -11.43 and a beta of 1.65. Altice USA has a 52-week low of $1.52 and a 52-week high of $3.20.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. On average, sell-side analysts predict that Altice USA will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd grew its stake in shares of Altice USA by 56.0% during the first quarter. R Squared Ltd now owns 15,490 shares of the company’s stock valued at $41,000 after purchasing an additional 5,560 shares during the last quarter. Swiss National Bank boosted its position in Altice USA by 2.0% in the 4th quarter. Swiss National Bank now owns 407,700 shares of the company’s stock valued at $983,000 after buying an additional 8,000 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Altice USA in the 4th quarter valued at $25,000. Raymond James Financial Inc. bought a new stake in shares of Altice USA during the fourth quarter worth $30,000. Finally, Geode Capital Management LLC lifted its stake in shares of Altice USA by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company’s stock valued at $6,500,000 after acquiring an additional 12,959 shares during the period. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.