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

Shares of Altice USA, Inc. (NYSE:ATUS) have been assigned an average recommendation of “Reduce” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2.55.

A number of equities research analysts have weighed in on ATUS shares. Zacks Research cut Altice USA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altice USA in a report on Wednesday, October 8th. Evercore ISI set a $2.50 price target on shares of Altice USA in a research report on Friday, November 7th. Citigroup lowered their price objective on shares of 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 shares of 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 Up 1.1%

Shares of Altice USA stock opened at $1.79 on Friday. The firm has a market cap of $841.00 million, a PE ratio of -0.45 and a beta of 1.63. Altice USA has a 52 week low of $1.74 and a 52 week high of $3.20. The business’s fifty day simple moving average is $1.82 and its 200-day simple moving average is $2.21.

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

Institutional Investors Weigh In On Altice USA

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Altice USA by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,403,757 shares of the company’s stock worth $66,043,000 after purchasing an additional 650,087 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Altice USA by 31.0% in the third quarter. Millennium Management LLC now owns 11,463,764 shares of the company’s stock worth $27,628,000 after acquiring an additional 2,711,903 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Altice USA by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 8,803,557 shares of the company’s stock valued at $21,217,000 after acquiring an additional 879,589 shares in the last quarter. Hudson Bay Capital Management LP increased its position in Altice USA by 7.5% during the 2nd quarter. Hudson Bay Capital Management LP now owns 7,449,991 shares of the company’s stock worth $15,943,000 after purchasing an additional 521,287 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Altice USA by 46.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company’s stock valued at $17,016,000 after purchasing an additional 2,031,971 shares during the last quarter. Institutional investors and hedge funds 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.