Altice USA (NYSE:ATUS) Shares Gap Down to $2.09

Altice USA, Inc. (NYSE:ATUS) gapped down prior to trading on Thursday . The stock had previously closed at $2.09, but opened at $1.76. Altice USA shares last traded at $1.99, with a volume of 324,811 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ATUS shares. The Goldman Sachs Group started coverage on Altice USA in a research note on Monday, July 1st. They issued a “sell” rating and a $2.00 price objective on the stock. Wells Fargo & Company downgraded Altice USA from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $2.00 to $1.00 in a research note on Friday, April 5th. Loop Capital decreased their target price on Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Bank of America started coverage on Altice USA in a research note on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 price objective on the stock. Finally, Evercore ISI reduced their price objective on Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Altice USA has a consensus rating of “Hold” and an average price target of $2.27.

Altice USA Stock Performance

The stock has a fifty day moving average of $2.12 and a 200-day moving average of $2.26. The company has a market cap of $869.32 million, a PE ratio of 210.00, a PEG ratio of 0.74 and a beta of 1.49.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). Altice USA had a negative return on equity of 1.54% and a net margin of 0.07%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. Altice USA’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Altice USA, Inc. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently made changes to their positions in the company. LB Partners LLC bought a new position in shares of Altice USA in the 4th quarter worth $1,636,000. Cerity Partners LLC acquired a new position in Altice USA during the 4th quarter valued at about $197,000. Victory Capital Management Inc. increased its position in Altice USA by 38.1% during the 4th quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock valued at $101,000 after buying an additional 8,600 shares in the last quarter. Segantii Capital Management Ltd acquired a new position in Altice USA during the 4th quarter valued at about $100,000. Finally, Montag A & Associates Inc. acquired a new position in Altice USA during the 4th quarter valued at about $32,000. 54.85% of the stock is currently 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.