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

Altice USA (NYSE:ATUS) had its price objective dropped by equities researchers at Loop Capital from $3.00 to $2.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential upside of 3.68% from the company’s previous close.

A number of other analysts have also weighed in on the stock. BNP Paribas lowered shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective for the company. in a research note on Tuesday, April 9th. Benchmark reissued a “buy” rating and issued a $5.00 price objective on shares of Altice USA in a report on Wednesday, March 20th. Wells Fargo & Company downgraded shares of Altice USA from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $2.00 to $1.00 in a report on Friday, April 5th. Evercore ISI reaffirmed an “in-line” rating and set a $3.00 price target on shares of Altice USA in a report on Tuesday, March 26th. Finally, UBS Group reduced their price objective on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Altice USA has a consensus rating of “Hold” and an average target price of $2.80.

Altice USA Stock Up 0.5 %

Shares of NYSE:ATUS traded up $0.01 on Tuesday, hitting $1.93. The company had a trading volume of 384,028 shares, compared to its average volume of 4,054,256. The firm’s 50-day simple moving average is $2.42 and its two-hundred day simple moving average is $2.52. Altice USA has a 1 year low of $1.75 and a 1 year high of $3.82. The firm has a market capitalization of $879.86 million, a price-to-earnings ratio of 16.08 and a beta of 1.35.

Altice USA (NYSE:ATUS) last posted its earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.33). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the business posted ($0.43) earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Altice USA will post 0.19 EPS for the current year.

Institutional Trading of Altice USA

Hedge funds have recently added to or reduced their stakes in the business. J.P. Morgan Private Wealth Advisors LLC raised its holdings in Altice USA by 8.8% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 60,000 shares of the company’s stock worth $196,000 after purchasing an additional 4,872 shares in the last quarter. Paralel Advisors LLC increased its holdings in shares of Altice USA by 1.1% during the third quarter. Paralel Advisors LLC now owns 559,178 shares of the company’s stock valued at $1,829,000 after acquiring an additional 6,319 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Altice USA by 38.1% during the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock valued at $101,000 after acquiring an additional 8,600 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of Altice USA during the fourth quarter valued at about $32,000. Finally, Aigen Investment Management LP increased its holdings in shares of Altice USA by 51.1% during the fourth quarter. Aigen Investment Management LP now owns 33,140 shares of the company’s stock valued at $108,000 after acquiring an additional 11,205 shares in the last quarter. 54.85% of the stock is 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.