Altice USA (NYSE:ATUS) Given New $2.00 Price Target at Loop Capital

Altice USA (NYSE:ATUS) had its target price lowered by Loop Capital from $3.00 to $2.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also recently weighed in on ATUS. Benchmark reaffirmed a buy rating and set a $5.00 target price on shares of Altice USA in a research note on Wednesday, March 20th. BNP Paribas cut shares of Altice USA from a neutral rating to an underperform rating and set a $1.00 target price for the company. in a research note on Tuesday, April 9th. Evercore ISI reiterated an in-line rating and set a $3.00 price objective on shares of Altice USA in a research report on Tuesday, March 26th. JPMorgan Chase & Co. reiterated an underweight rating on shares of Altice USA in a research report on Thursday, April 11th. Finally, UBS Group lowered their price objective on shares of Altice USA from $6.00 to $4.00 and set a buy rating for the company in a research report on Thursday, February 15th. Four equities 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 stock. According to MarketBeat.com, Altice USA currently has an average rating of Hold and a consensus target price of $2.80.

Altice USA Stock Performance

ATUS opened at $1.91 on Tuesday. The stock has a market capitalization of $871.19 million, a price-to-earnings ratio of 15.92 and a beta of 1.35. The company has a fifty day moving average of $2.42 and a 200 day moving average of $2.51. Altice USA has a fifty-two week low of $1.75 and a fifty-two week high of $3.82.

Altice USA (NYSE:ATUS) last posted its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.33). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.43) earnings per share. On average, equities research analysts forecast that Altice USA will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

A number of large investors have recently made changes to their positions in ATUS. Assenagon Asset Management S.A. boosted its stake in shares of Altice USA by 79.9% during the 4th 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. CastleKnight Management LP boosted its stake in shares of Altice USA by 676.6% during the 4th quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock worth $4,744,000 after purchasing an additional 1,271,734 shares during the period. Hudson Bay Capital Management LP boosted its stake in shares of Altice USA by 18.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock worth $17,240,000 after purchasing an additional 823,530 shares during the period. LB Partners LLC purchased a new position in shares of Altice USA during the 4th quarter worth about $1,636,000. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Altice USA by 6.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock worth $22,264,000 after purchasing an additional 396,275 shares during the period. 54.85% of the stock is owned by hedge funds and other institutional investors.

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.