Altice USA (NYSE:ATUS) Earns Underperform Rating from Analysts at Bank of America

Bank of America started coverage on shares of Altice USA (NYSE:ATUS) in a research report report published on Wednesday morning, StockNewsAPI reports. The firm issued an underperform rating and a $1.50 target price on the stock.

A number of other research firms also recently issued reports on ATUS. Evercore ISI reiterated an in-line rating and issued a $3.00 price objective on shares of Altice USA in a report on Tuesday, March 26th. UBS Group lowered their price objective on shares of Altice USA from $6.00 to $4.00 and set a buy rating on the stock in a report on Thursday, February 15th. 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. Benchmark reissued a buy rating and issued a $5.00 target price on shares of Altice USA in a research note on Wednesday, March 20th. Finally, Loop Capital decreased their target price on shares of Altice USA from $3.00 to $2.00 and set a hold rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $2.68.

Altice USA Stock Up 2.6 %

NYSE ATUS opened at $1.96 on Wednesday. Altice USA has a 12-month low of $1.75 and a 12-month high of $3.82. The company has a market capitalization of $893.99 million, a PE ratio of 16.33 and a beta of 1.35. The firm’s 50 day moving average is $2.42 and its 200-day moving average is $2.51.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data 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). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the business earned ($0.43) earnings per share. Altice USA’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Altice USA will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC boosted its position in Altice USA by 6.1% during the fourth 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. Hudson Bay Capital Management LP boosted its position in Altice USA by 18.5% during the third 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. FMR LLC boosted its position in Altice USA by 0.6% during the third quarter. FMR LLC now owns 4,767,457 shares of the company’s stock worth $15,590,000 after purchasing an additional 29,995 shares during the period. Assenagon Asset Management S.A. boosted its position in Altice USA by 16.6% during the first quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock worth $11,820,000 after purchasing an additional 643,731 shares during the period. Finally, Federated Hermes Inc. boosted its position in Altice USA by 6.0% during the third quarter. Federated Hermes Inc. now owns 2,877,879 shares of the company’s stock worth $9,411,000 after purchasing an additional 162,545 shares during the period. 54.85% of the stock is owned by 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.