Altice USA (NYSE:ATUS) Shares Down 4.6%

Altice USA, Inc. (NYSE:ATUS) was down 4.6% during mid-day trading on Monday . The company traded as low as $2.08 and last traded at $2.08. Approximately 416,925 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 4,250,208 shares. The stock had previously closed at $2.18.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Evercore ISI reissued an “in-line” rating and set a $3.00 price objective on shares of Altice USA in a report on Tuesday, March 26th. BNP Paribas cut Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a report on Tuesday, April 9th. Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $2.00 to $1.00 in a report on Friday, April 5th. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Altice USA in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.90.

Altice USA Stock Down 5.1 %

The business has a 50 day moving average price of $2.44 and a 200 day moving average price of $2.55. The stock has a market cap of $887.15 million, a P/E ratio of 16.21 and a beta of 1.35.

Altice USA (NYSE:ATUS) last released its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.33). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.43) earnings per share. On average, research analysts expect that Altice USA, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of ATUS. Nomura Holdings Inc. grew its position in shares of Altice USA by 343.0% in the 4th quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock worth $995,000 after buying an additional 236,933 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Altice USA in the fourth quarter worth $47,000. Readystate Asset Management LP increased its position in shares of Altice USA by 236.7% during the fourth quarter. Readystate Asset Management LP now owns 446,626 shares of the company’s stock worth $1,452,000 after purchasing an additional 313,970 shares in the last quarter. Legal & General Group Plc increased its position in shares of Altice USA by 2.8% during the fourth quarter. Legal & General Group Plc now owns 320,507 shares of the company’s stock worth $1,042,000 after purchasing an additional 8,627 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Altice USA by 442.4% during the 4th quarter. Barclays PLC now owns 436,188 shares of the company’s stock valued at $1,417,000 after purchasing an additional 355,763 shares during the last quarter. Institutional investors own 54.85% of the company’s stock.

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.