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

Altice USA (NYSE:ATUS) had its price target dropped by analysts at Loop Capital from $3.00 to $2.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential upside of 2.04% from the stock’s current price.

Several other equities research analysts also recently commented on ATUS. Wells Fargo & Company downgraded Altice USA from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $2.00 to $1.00 in a report on Friday, April 5th. 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 report on Tuesday, April 9th. Evercore ISI reaffirmed an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. UBS Group decreased their target price 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. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.68.

Altice USA Stock Up 2.6 %

Shares of NYSE ATUS opened at $1.96 on Tuesday. The firm has a market cap of $893.99 million, a PE ratio of 16.33 and a beta of 1.35. The company’s fifty day simple moving average is $2.42 and its 200 day simple moving average is $2.51. Altice USA has a 12-month low of $1.75 and a 12-month high of $3.82.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data 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 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%. Altice USA’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.43) EPS. On average, equities analysts predict that Altice USA will post 0.19 earnings per share for the current year.

Institutional Trading of Altice USA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in Altice USA by 16.6% during 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 purchasing an additional 643,731 shares during the period. Nomura Holdings Inc. boosted its stake in Altice USA by 343.0% during the fourth quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock worth $995,000 after acquiring an additional 236,933 shares in the last quarter. Quadrature Capital Ltd bought a new position in Altice USA during the 4th quarter valued at approximately $47,000. Readystate Asset Management LP grew its position in Altice USA by 236.7% during the 4th quarter. Readystate Asset Management LP now owns 446,626 shares of the company’s stock valued at $1,452,000 after purchasing an additional 313,970 shares during the last quarter. Finally, Apollo Management Holdings L.P. grew its holdings in shares of Altice USA by 1.8% during the fourth quarter. Apollo Management Holdings L.P. now owns 2,181,533 shares of the company’s stock valued at $7,090,000 after buying an additional 38,398 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.