Altice USA, Inc. (NYSE:ATUS) Receives Consensus Rating of “Reduce” from Analysts

Shares of Altice USA, Inc. (NYSE:ATUS) have been assigned an average recommendation of “Reduce” from the six analysts that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $2.55.

Several equities analysts have recently weighed in on the company. Evercore ISI set a $2.50 target price on Altice USA in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Altice USA in a report on Wednesday, October 8th. The Goldman Sachs Group began coverage on Altice USA in a research report on Tuesday, September 2nd. They set a “sell” rating and a $2.00 target price for the company. Zacks Research downgraded Altice USA from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Finally, Barclays cut their price objective on Altice USA from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th.

Hedge Funds Weigh In On Altice USA

Several institutional investors and hedge funds have recently bought and sold shares of the company. HG Vora Capital Management LLC purchased a new stake in Altice USA in the first quarter valued at $12,502,000. Allianz Asset Management GmbH acquired a new stake in Altice USA in the 2nd quarter valued at approximately $579,000. Compass Rose Asset Management LP lifted its stake in Altice USA by 108.0% during the second quarter. Compass Rose Asset Management LP now owns 2,600,000 shares of the company’s stock worth $5,564,000 after purchasing an additional 1,350,000 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Altice USA by 11.4% during the first quarter. Hsbc Holdings PLC now owns 99,025 shares of the company’s stock worth $263,000 after buying an additional 10,139 shares during the period. Finally, Bracebridge Capital LLC grew its stake in shares of Altice USA by 6.0% in the first quarter. Bracebridge Capital LLC now owns 9,390,440 shares of the company’s stock valued at $24,979,000 after buying an additional 535,463 shares in the last quarter. 54.85% of the stock is owned by hedge funds and other institutional investors.

Altice USA Price Performance

The stock has a fifty day simple moving average of $2.28 and a 200-day simple moving average of $2.34. The firm has a market cap of $841.00 million, a price-to-earnings ratio of -0.45 and a beta of 1.63. Altice USA has a fifty-two week low of $1.74 and a fifty-two week high of $3.20.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($3.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted ($0.09) earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts predict that Altice USA will post -0.24 earnings per share for the current fiscal year.

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.