JPMorgan Chase & Co. Reaffirms Underweight Rating for Altice USA (NYSE:ATUS)

Altice USA (NYSE:ATUS)‘s stock had its “underweight” rating reiterated by JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday, MarketBeat reports.

Several other research analysts have also weighed in on ATUS. Wells Fargo & Company lowered 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 report on Friday, April 5th. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Altice USA in a report on Wednesday, March 20th. Evercore ISI restated an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. UBS Group decreased 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. Finally, BNP Paribas cut Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective for the company. in a report on Tuesday. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.90.

Altice USA Stock Performance

Shares of ATUS stock opened at $2.18 on Thursday. Altice USA has a 1 year low of $1.75 and a 1 year high of $3.82. The firm has a market capitalization of $994.34 million, a PE ratio of 18.17 and a beta of 1.35. The stock has a fifty day moving average of $2.44 and a two-hundred day moving average of $2.58.

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). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates 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 for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.43) EPS. Equities research analysts predict that Altice USA will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC boosted its stake in Altice USA by 514.8% during the 4th quarter. AQR Capital Management LLC now owns 12,069,565 shares of the company’s stock worth $54,494,000 after acquiring an additional 10,106,315 shares during the last quarter. Bank of America Corp DE increased its stake in Altice USA by 916.5% during the 1st quarter. Bank of America Corp DE now owns 10,064,744 shares of the company’s stock worth $34,421,000 after purchasing an additional 9,074,653 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in Altice USA by 3,035.2% in the 1st quarter. Hudson Bay Capital Management LP now owns 4,822,657 shares of the company’s stock valued at $16,493,000 after acquiring an additional 4,668,832 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Altice USA during the fourth quarter worth about $13,667,000. Finally, Morgan Stanley boosted its holdings in Altice USA by 102.8% during the fourth quarter. Morgan Stanley now owns 7,544,069 shares of the company’s stock worth $34,703,000 after purchasing an additional 3,823,987 shares during the last quarter. 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.