Altice USA (NYSE:ATUS) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Altice USA (NYSE:ATUS) in a report published on Wednesday, StockNewsAPI reports. The firm issued an underperform rating and a $1.50 price objective on the stock.

Several other research firms also recently issued reports on ATUS. Loop Capital decreased their price objective on shares of Altice USA from $3.00 to $2.00 and set a hold rating for the company in a report on Tuesday. Benchmark reaffirmed a buy rating and set a $5.00 price objective on shares of Altice USA in a report on Wednesday, March 20th. UBS Group decreased their price objective on shares of Altice USA from $6.00 to $4.00 and set a buy rating for the company in a report on Thursday, February 15th. BNP Paribas downgraded shares of Altice USA from a neutral rating to an underperform rating and set a $1.00 price objective for the company. in a report on Tuesday, April 9th. Finally, Wells Fargo & Company downgraded shares of Altice USA from an equal weight rating to an underweight rating and decreased their price objective for the stock from $2.00 to $1.00 in a report on Friday, April 5th. Five equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $2.68.

Altice USA Price Performance

Shares of Altice USA stock opened at $1.96 on Wednesday. The firm has a market cap of $893.99 million, a price-to-earnings ratio of 16.33 and a beta of 1.35. Altice USA has a 52-week low of $1.75 and a 52-week high of $3.82. The stock has a 50-day simple moving average of $2.42 and a 200-day simple moving average of $2.51.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.29 billion. Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.43) EPS. As a group, equities research analysts predict that Altice USA will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Several large investors have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC raised its stake in shares of Altice USA by 6.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock valued at $22,264,000 after buying an additional 396,275 shares in the last quarter. Hudson Bay Capital Management LP raised its stake in shares of Altice USA by 18.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock valued at $17,240,000 after buying an additional 823,530 shares in the last quarter. FMR LLC raised its stake in shares of Altice USA by 0.6% in the 3rd quarter. FMR LLC now owns 4,767,457 shares of the company’s stock valued at $15,590,000 after buying an additional 29,995 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Altice USA by 16.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock valued at $11,820,000 after buying an additional 643,731 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Altice USA by 6.0% in the 3rd quarter. Federated Hermes Inc. now owns 2,877,879 shares of the company’s stock valued at $9,411,000 after buying an additional 162,545 shares in 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.