Altice USA (NYSE:ATUS) Earns Underperform Rating from Analysts at Bank of America

Bank of America began coverage on shares of Altice USA (NYSE:ATUS) in a research report issued to clients and investors on Wednesday, StockNewsAPI reports. The firm set an “underperform” rating and a $1.50 price target on the stock. Bank of America‘s price objective points to a potential downside of 21.47% from the company’s previous close.

Several other analysts have also commented on the stock. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Altice USA in a research report on Wednesday, March 20th. BNP Paribas lowered shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a research report on Tuesday, April 9th. UBS Group decreased their price target 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. Loop Capital cut their price objective on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.68.

Altice USA Trading Down 0.5 %

NYSE:ATUS opened at $1.91 on Wednesday. Altice USA has a twelve month low of $1.75 and a twelve month high of $3.82. The company has a market cap of $871.19 million, a price-to-earnings ratio of 15.92 and a beta of 1.35. The stock has a fifty day simple moving average of $2.42 and a 200-day simple moving average of $2.51.

Altice USA (NYSE:ATUS) last released its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.33). The business had revenue of $2.30 billion for 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 firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.43) earnings per share. As a group, equities research analysts predict that Altice USA will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of ATUS. J.P. Morgan Private Wealth Advisors LLC increased its stake in Altice USA by 8.8% during the third 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 grew its stake in shares of Altice USA by 1.1% in the third quarter. Paralel Advisors LLC now owns 559,178 shares of the company’s stock valued at $1,829,000 after buying an additional 6,319 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Altice USA by 38.1% in the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock valued at $101,000 after buying an additional 8,600 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in shares of Altice USA in the fourth quarter valued at about $32,000. Finally, Aigen Investment Management LP grew its stake in shares of Altice USA by 51.1% in the fourth quarter. Aigen Investment Management LP now owns 33,140 shares of the company’s stock valued at $108,000 after buying an additional 11,205 shares in the last quarter. Institutional investors and hedge funds 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.