Loop Capital Trims Altice USA (NYSE:ATUS) Target Price to $2.00

Altice USA (NYSE:ATUS) had its price objective cut by research analysts at Loop Capital from $3.00 to $2.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price target points to a potential upside of 3.68% from the company’s previous close.

Several other equities analysts also recently weighed in on ATUS. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. BNP Paribas lowered Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price for the company. in a research note on Tuesday, April 9th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Wells Fargo & Company downgraded Altice USA from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $2.00 to $1.00 in a report on Friday, April 5th. Finally, UBS Group reduced their price target on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.80.

Altice USA Trading Up 0.5 %

Shares of NYSE ATUS traded up $0.01 during trading on Tuesday, reaching $1.93. The company had a trading volume of 384,028 shares, compared to its average volume of 4,054,256. Altice USA has a twelve month low of $1.75 and a twelve month high of $3.82. The stock has a market capitalization of $879.86 million, a PE ratio of 16.08 and a beta of 1.35. The stock has a 50-day moving average price of $2.42 and a two-hundred day moving average price of $2.52.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the firm earned ($0.43) earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Altice USA will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Altice USA

Hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of Altice USA by 79.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock worth $12,626,000 after acquiring an additional 1,724,851 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Altice USA in the third quarter worth $1,006,000. Hudson Bay Capital Management LP boosted its position in shares of Altice USA by 18.5% in the third quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock worth $17,240,000 after buying an additional 823,530 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Altice USA in the third quarter worth $72,000. Finally, Rafferty Asset Management LLC boosted its position in Altice USA by 44.9% during the third quarter. Rafferty Asset Management LLC now owns 242,938 shares of the company’s stock valued at $794,000 after purchasing an additional 75,280 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.