Altice USA, Inc. (NYSE:ATUS) Receives $3.00 Consensus Price Target from Brokerages

Altice USA, Inc. (NYSE:ATUS) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $3.00.

Several equities research analysts have recently weighed in on ATUS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Altice USA in a research report on Saturday, September 27th. The Goldman Sachs Group initiated coverage on shares of Altice USA in a research note on Tuesday, September 2nd. They set a “sell” rating and a $2.00 price objective for the company.

Institutional Investors Weigh In On Altice USA

Institutional investors and hedge funds have recently made changes to their positions in the business. DoubleLine ETF Adviser LP bought a new stake in Altice USA during the first quarter valued at $29,000. May Hill Capital LLC purchased a new stake in shares of Altice USA in the 2nd quarter valued at about $29,000. R Squared Ltd raised its holdings in shares of Altice USA by 56.0% in the 1st quarter. R Squared Ltd now owns 15,490 shares of the company’s stock valued at $41,000 after acquiring an additional 5,560 shares in the last quarter. CWM LLC boosted its position in shares of Altice USA by 251.5% during the 2nd quarter. CWM LLC now owns 22,280 shares of the company’s stock valued at $48,000 after acquiring an additional 15,941 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in shares of Altice USA during the second quarter worth about $57,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Price Performance

Shares of ATUS stock opened at $2.51 on Friday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -4.32 and a beta of 1.59. The company’s fifty day simple moving average is $2.40 and its two-hundred day simple moving average is $2.41. Altice USA has a 1 year low of $1.95 and a 1 year high of $3.20.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.15). The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. Equities research analysts anticipate that Altice USA will post -0.24 EPS for the current year.

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.