Altice USA (NYSE:ATUS) Price Target Cut to $2.00 by Analysts at Loop Capital

Altice USA (NYSE:ATUS) had its price target lowered by Loop Capital from $3.00 to $2.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

ATUS has been the topic of several other reports. Evercore ISI restated an in-line rating and set a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. JPMorgan Chase & Co. restated an underweight rating on shares of Altice USA in a research note on Thursday, April 11th. Benchmark reiterated a buy rating and issued a $5.00 target price on shares of Altice USA in a research note on Wednesday, March 20th. BNP Paribas cut Altice USA from a neutral rating to an underperform rating and set a $1.00 target price on the stock. in a research note on Tuesday, April 9th. Finally, UBS Group cut their target price on Altice USA from $6.00 to $4.00 and set a buy rating on the stock in a research note on Thursday, February 15th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Altice USA presently has a consensus rating of Hold and an average target price of $2.68.

Altice USA Price Performance

Shares of ATUS opened at $1.95 on Tuesday. The business’s fifty day moving average price is $2.41 and its 200 day moving average price is $2.51. Altice USA has a 12-month low of $1.75 and a 12-month high of $3.82. The stock has a market capitalization of $889.43 million, a PE ratio of 16.25 and a beta of 1.35.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share (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 firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the business earned ($0.43) earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Altice USA will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATUS. SG Americas Securities LLC increased its holdings in shares of Altice USA by 81.9% during the third quarter. SG Americas Securities LLC now owns 41,793 shares of the company’s stock valued at $137,000 after purchasing an additional 18,815 shares during the period. Counterpoint Mutual Funds LLC grew its holdings in Altice USA by 59.9% during the third quarter. Counterpoint Mutual Funds LLC now owns 75,094 shares of the company’s stock worth $246,000 after acquiring an additional 28,136 shares during the period. Bank of New York Mellon Corp grew its holdings in Altice USA by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 725,627 shares of the company’s stock worth $2,373,000 after acquiring an additional 24,586 shares during the period. Capula Management Ltd acquired a new position in Altice USA during the third quarter worth about $1,055,000. Finally, Assenagon Asset Management S.A. grew its holdings in Altice USA by 159.7% during the third quarter. Assenagon Asset Management S.A. now owns 2,159,990 shares of the company’s stock worth $7,063,000 after acquiring an additional 1,328,364 shares during the period. 54.85% of the stock is owned by institutional investors and hedge funds.

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.