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 report released on Wednesday, StockNewsAPI reports. The brokerage set an “underperform” rating and a $1.50 price target on the stock. Bank of America‘s price target points to a potential downside of 21.47% from the company’s current price.

Several other research firms have also issued reports on ATUS. BNP Paribas lowered shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target on the stock. in a research report on Tuesday, April 9th. Benchmark reaffirmed a “buy” rating and set a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. UBS Group reduced their price objective on shares of Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $2.00 to $1.00 in a research note on Friday, April 5th. Finally, Loop Capital reduced their price objective 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 investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.68.

Altice USA Price Performance

ATUS opened at $1.91 on Wednesday. The company’s 50-day moving average is $2.42 and its 200 day moving average is $2.51. Altice USA has a fifty-two week low of $1.75 and a fifty-two week high of $3.82. The firm has a market capitalization of $871.19 million, a P/E ratio of 15.92 and a beta of 1.35.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.33). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) EPS. On average, equities research analysts expect that Altice USA will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. J.P. Morgan Private Wealth Advisors LLC lifted its holdings in shares of Altice USA by 8.8% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 60,000 shares of the company’s stock worth $196,000 after acquiring an additional 4,872 shares during the last quarter. Paralel Advisors LLC lifted its holdings in shares of Altice USA by 1.1% in the 3rd quarter. Paralel Advisors LLC now owns 559,178 shares of the company’s stock worth $1,829,000 after acquiring an additional 6,319 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Altice USA by 38.1% in the 4th quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock worth $101,000 after acquiring an additional 8,600 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of Altice USA in the 4th quarter worth approximately $32,000. Finally, Aigen Investment Management LP lifted its holdings in shares of Altice USA by 51.1% in the 4th quarter. Aigen Investment Management LP now owns 33,140 shares of the company’s stock worth $108,000 after acquiring an additional 11,205 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.