Altice USA (NYSE:ATUS) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Altice USA (NYSE:ATUS) in a research report report published on Monday morning, Marketbeat.com reports. The firm issued a sell rating and a $2.00 target price on the stock.

ATUS has been the topic of a number of other research reports. BNP Paribas downgraded shares of Altice USA from a neutral rating to an underperform rating and set a $1.00 price objective on the stock. in a research report on Tuesday, April 9th. Evercore ISI restated an in-line rating and set a $3.00 price objective on shares of Altice USA in a research report on Tuesday, March 26th. Benchmark reiterated a buy rating and issued a $5.00 price target on shares of Altice USA in a research report on Wednesday, March 20th. Loop Capital decreased their price target on shares of Altice USA from $3.00 to $2.00 and set a hold rating on the stock in a research report on Tuesday, April 23rd. Finally, Wells Fargo & Company downgraded shares of Altice USA from an equal weight rating to an underweight rating and decreased their price target for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $2.27.

Altice USA Stock Up 2.0 %

Shares of Altice USA stock opened at $2.06 on Monday. The company has a market cap of $947.52 million, a price-to-earnings ratio of 206.00, a price-to-earnings-growth ratio of 0.62 and a beta of 1.49. The company’s 50 day moving average is $2.21 and its 200 day moving average is $2.39. Altice USA has a twelve month low of $1.75 and a twelve month high of $3.82.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. Sell-side analysts expect that Altice USA will post 0.18 EPS for the current fiscal year.

Institutional Trading of Altice USA

A number of hedge funds and other institutional investors have recently modified their holdings of ATUS. Charles Schwab Investment Management Inc. increased its stake in shares of Altice USA by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,614 shares of the company’s stock worth $4,047,000 after purchasing an additional 109,370 shares in the last quarter. FMR LLC increased its stake in shares of Altice USA by 0.6% in the third quarter. FMR LLC now owns 4,767,457 shares of the company’s stock worth $15,590,000 after purchasing an additional 29,995 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Altice USA in the third quarter worth $232,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Altice USA in the third quarter worth $37,000. Finally, Hudson Bay Capital Management LP increased its stake 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 purchasing an additional 823,530 shares in the last quarter. 54.85% of the stock is owned by hedge funds and other institutional investors.

Altice USA Company Profile

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.