Altice USA (NYSE:ATUS) Price Target Lowered to $2.00 at Barclays

Altice USA (NYSE:ATUS) had its target price reduced by Barclays from $3.00 to $2.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the company. Zacks Research lowered Altice USA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group assumed coverage on shares of Altice USA in a report on Tuesday, September 2nd. They set a “sell” rating and a $2.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Altice USA in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $2.60.

Altice USA Stock Up 0.7%

Shares of NYSE ATUS traded up $0.02 during midday trading on Friday, hitting $2.09. The stock had a trading volume of 4,791,548 shares, compared to its average volume of 3,391,668. Altice USA has a 52 week low of $1.88 and a 52 week high of $3.20. The company has a market cap of $977.14 million, a P/E ratio of -0.53 and a beta of 1.63. The business’s 50 day moving average is $2.38 and its 200-day moving average is $2.38.

Altice USA (NYSE:ATUS) last posted its earnings results on Thursday, November 6th. The company reported ($3.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, analysts expect that Altice USA will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Altice USA by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 27,403,757 shares of the company’s stock worth $66,043,000 after purchasing an additional 650,087 shares during the period. JPMorgan Chase & Co. grew its holdings in Altice USA by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 8,803,557 shares of the company’s stock valued at $21,217,000 after purchasing an additional 879,589 shares during the period. Optimize Financial Inc purchased a new stake in Altice USA in the third quarter worth about $1,595,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Altice USA in the third quarter worth about $27,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Altice USA by 50.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,300 shares of the company’s stock valued at $39,000 after buying an additional 5,156 shares in the last quarter. 54.85% of the stock is currently owned by hedge funds and other 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.