Altice USA, Inc. (NYSE:ATUS) Receives $2.55 Average Price Target from Analysts

Altice USA, Inc. (NYSE:ATUS) has been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.55.

ATUS has been the topic of several analyst reports. Zacks Research cut shares of Altice USA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group started coverage on Altice USA in a report on Tuesday, September 2nd. They set a “sell” rating and a $2.00 target price on the stock. Evercore ISI set a $2.50 price target on Altice USA in a research note on Friday, November 7th. Citigroup lowered their price target on Altice USA from $3.25 to $2.75 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Barclays dropped their price objective on Altice USA from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th.

Altice USA Stock Performance

NYSE ATUS opened at $1.79 on Wednesday. Altice USA has a 52 week low of $1.74 and a 52 week high of $3.20. The stock’s 50 day moving average price is $1.98 and its two-hundred day moving average price is $2.25. The stock has a market capitalization of $841.00 million, a price-to-earnings ratio of -0.45 and a beta of 1.63.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($3.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned ($0.09) EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Altice USA will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss Life Asset Management Ltd bought a new stake in shares of Altice USA in the 3rd quarter valued at about $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Altice USA during the third quarter worth approximately $27,000. DoubleLine ETF Adviser LP bought a new stake in Altice USA in the first quarter valued at approximately $29,000. May Hill Capital LLC acquired a new stake in shares of Altice USA in the second quarter valued at approximately $29,000. Finally, Voleon Capital Management LP acquired a new stake in shares of Altice USA in the third quarter valued at approximately $31,000. Institutional investors own 54.85% of the company’s stock.

About Altice USA

Altice USA is a leading U.S. telecommunications and media provider offering a comprehensive suite of services that includes high-speed broadband internet, pay television, voice and mobile solutions. Formed in 2015 as a subsidiary of the European Altice Group following the acquisitions of Cablevision and Suddenlink Communications, Altice USA has invested in network upgrades and platform integration to deliver a unified customer experience under its consumer-branded Altice One set-top gateway.

On the residential side, Altice USA’s core offerings encompass multi-gigabit internet speeds, digital video packages, home telephone services and an MVNO-based mobile service that leverages partner networks.