Altice USA (NYSE:ATUS) Shares Down 9.8% – Here’s Why

Shares of Altice USA, Inc. (NYSE:ATUS) were down 9.8% on Tuesday . The company traded as low as $2.21 and last traded at $2.22. Approximately 2,834,754 shares traded hands during trading, a decline of 9% from the average daily volume of 3,131,370 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 price objective for the company in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.44.

Altice USA Trading Down 6.3 %

The business has a fifty day moving average price of $2.63 and a 200-day moving average price of $2.58. The stock has a market capitalization of $1.07 billion, a PE ratio of -10.02 and a beta of 1.65.

Altice USA (NYSE:ATUS) last released its earnings results on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). On average, equities analysts anticipate that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Several institutional investors have recently added to or reduced their stakes in ATUS. LPL Financial LLC bought a new position in shares of Altice USA during the fourth quarter valued at about $25,000. Raymond James Financial Inc. purchased a new position in Altice USA during the 4th quarter valued at about $30,000. Wolverine Trading LLC purchased a new stake in Altice USA in the 3rd quarter worth approximately $39,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Altice USA in the 4th quarter worth approximately $43,000. Finally, State of Wyoming purchased a new position in shares of Altice USA during the fourth quarter valued at approximately $57,000. Hedge funds and other 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.