Altice USA (NYSE:ATUS) Shares Gap Down – Should You Sell?

Shares of Altice USA, Inc. (NYSE:ATUS) gapped down prior to trading on Friday . The stock had previously closed at $2.83, but opened at $2.55. Altice USA shares last traded at $2.38, with a volume of 2,825,748 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ATUS shares. Barclays raised their price target on shares of Altice USA from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Raymond James upgraded shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 price target on the stock in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their price objective on shares of Altice USA from $2.00 to $2.25 and gave the company a “sell” rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.75.

Altice USA Price Performance

The firm’s 50-day moving average is $2.51 and its 200 day moving average is $2.59. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -10.50 and a beta of 1.65.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Altice USA, Inc. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Altice USA

Large investors have recently made changes to their positions in the business. LPL Financial LLC acquired a new stake in shares of Altice USA in the fourth quarter worth $25,000. DoubleLine ETF Adviser LP purchased a new position in shares of Altice USA in the first quarter valued at $29,000. Raymond James Financial Inc. purchased a new position in shares of Altice USA in the fourth quarter valued at $30,000. R Squared Ltd boosted its stake in shares of Altice USA by 56.0% in the first quarter. R Squared Ltd now owns 15,490 shares of the company’s stock valued at $41,000 after purchasing an additional 5,560 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Altice USA in the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.