Altice USA (NYSE:ATUS) Coverage Initiated by Analysts at Bank of America

Bank of America started coverage on shares of Altice USA (NYSE:ATUS) in a research note released on Wednesday morning, StockNewsAPI reports. The firm issued an underperform rating and a $1.50 target price on the stock.

A number of other analysts have also commented on ATUS. Wells Fargo & Company lowered shares of Altice USA from an equal weight rating to an underweight rating and reduced their price target for the stock from $2.00 to $1.00 in a research note on Friday, April 5th. UBS Group dropped their price objective on shares of Altice USA from $6.00 to $4.00 and set a buy rating on the stock in a report on Thursday, February 15th. Evercore ISI reissued an in-line rating and issued a $3.00 price objective on shares of Altice USA in a report on Tuesday, March 26th. BNP Paribas downgraded shares of Altice USA from a neutral rating to an underperform rating and set a $1.00 price objective on the stock. in a report on Tuesday, April 9th. Finally, Benchmark reissued a buy rating and issued a $5.00 price objective on shares of Altice USA in a report on Wednesday, March 20th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Altice USA has an average rating of Hold and an average price target of $2.68.

Altice USA Stock Up 5.4 %

Shares of ATUS stock opened at $2.06 on Wednesday. The company has a 50 day moving average price of $2.41 and a 200-day moving average price of $2.50. Altice USA has a 52 week low of $1.75 and a 52 week high of $3.82. The firm has a market capitalization of $937.33 million, a PE ratio of 17.13 and a beta of 1.35.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that Altice USA will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

Institutional investors and hedge funds have recently modified their holdings of the stock. Montag A & Associates Inc. bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $32,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Altice USA during the third quarter valued at approximately $37,000. Quadrature Capital Ltd bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $47,000. Aigen Investment Management LP bought a new stake in Altice USA in the third quarter worth $72,000. Finally, Jump Financial LLC bought a new stake in Altice USA in the fourth quarter worth $84,000. Institutional investors own 54.85% of the company’s stock.

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.