Altice USA (NYSE:ATUS) Shares Gap Down to $2.34

Shares of Altice USA, Inc. (NYSE:ATUS) gapped down before the market opened on Thursday . The stock had previously closed at $2.34, but opened at $2.24. Altice USA shares last traded at $2.26, with a volume of 272,312 shares traded.

Wall Street Analyst Weigh In

ATUS has been the topic of a number of recent research reports. Evercore ISI restated an “in-line” rating and set a $3.00 target price on shares of Altice USA in a research note on Tuesday, March 26th. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Altice USA in a research note on Wednesday, March 20th. UBS Group dropped their price target on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. BNP Paribas lowered shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target on the stock. in a research note on Tuesday. Finally, Wells Fargo & Company lowered shares of Altice USA from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $2.00 to $1.00 in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.90.

Altice USA Price Performance

The firm has a market capitalization of $994.34 million, a PE ratio of 18.17 and a beta of 1.35. The business’s 50-day moving average price is $2.44 and its 200-day moving average price is $2.58.

Altice USA (NYSE:ATUS) last announced its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.43) earnings per share. Equities analysts forecast that Altice USA, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Altice USA by 79.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock worth $12,626,000 after purchasing an additional 1,724,851 shares during the period. Wolverine Asset Management LLC acquired a new stake in Altice USA in the third quarter valued at $1,006,000. Hudson Bay Capital Management LP lifted its holdings in Altice USA by 18.5% in the third quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock valued at $17,240,000 after acquiring an additional 823,530 shares during the period. Aigen Investment Management LP acquired a new stake in Altice USA in the third quarter valued at $72,000. Finally, Rafferty Asset Management LLC lifted its holdings in Altice USA by 44.9% in the third quarter. Rafferty Asset Management LLC now owns 242,938 shares of the company’s stock valued at $794,000 after acquiring an additional 75,280 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.