Altice USA (NYSE:ATUS) Trading Down 4.6%

Shares of Altice USA, Inc. (NYSE:ATUS) fell 4.6% during trading on Monday . The company traded as low as $2.08 and last traded at $2.08. 416,925 shares traded hands during trading, a decline of 90% from the average session volume of 4,250,208 shares. The stock had previously closed at $2.18.

Analyst Ratings Changes

ATUS has been the topic of several recent analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of Altice USA in a report on Wednesday, March 20th. Evercore ISI restated an “in-line” rating and set a $3.00 target price on shares of Altice USA in a research note on Tuesday, March 26th. Wells Fargo & Company lowered shares of Altice USA from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $2.00 to $1.00 in a research note on Friday, April 5th. Finally, 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 report on Thursday, February 15th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Altice USA presently has a consensus rating of “Hold” and a consensus price target of $2.90.

Altice USA Price Performance

The business’s 50 day simple moving average is $2.44 and its 200 day simple moving average is $2.55. The company has a market capitalization of $887.15 million, a price-to-earnings ratio of 16.21 and a beta of 1.35.

Altice USA (NYSE:ATUS) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business posted ($0.43) earnings per share. Altice USA’s revenue was down 2.9% on a year-over-year basis. As a group, analysts expect that Altice USA, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank raised its position in Altice USA by 579.0% during the third quarter. Comerica Bank now owns 8,555 shares of the company’s stock worth $28,000 after acquiring an additional 7,295 shares during the last quarter. Ground Swell Capital LLC purchased a new position in Altice USA in the 2nd quarter valued at about $30,000. Montag A & Associates Inc. purchased a new position in Altice USA in the 4th quarter valued at about $32,000. Equitable Holdings Inc. acquired a new stake in shares of Altice USA during the 1st quarter worth about $34,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Altice USA during the third quarter worth about $37,000. 54.85% of the stock is currently owned by hedge funds and other institutional investors.

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.