Altice USA (NYSE:ATUS) Now Covered by Bank of America

Equities research analysts at Bank of America initiated coverage on shares of Altice USA (NYSE:ATUS) in a note issued to 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 target suggests a potential downside of 23.08% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. reiterated 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 decreased their price objective for the stock from $2.00 to $1.00 in a report on Friday, April 5th. Evercore ISI reiterated an “in-line” rating and set a $3.00 price objective on shares of Altice USA in a report on Tuesday, March 26th. BNP Paribas downgraded 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, UBS Group decreased their price objective on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.68.

Altice USA Price Performance

NYSE ATUS opened at $1.95 on Wednesday. The firm has a market cap of $889.43 million, a P/E ratio of 16.25 and a beta of 1.35. The stock’s 50-day moving average is $2.41 and its 200-day moving average is $2.51. Altice USA has a one year low of $1.75 and a one year high of $3.82.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). The firm 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) earnings per share. Equities analysts anticipate that Altice USA will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its stake in shares of Altice USA by 79.9% during 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 period. Wolverine Asset Management LLC bought a new position in shares of Altice USA during the 3rd quarter worth approximately $1,006,000. Hudson Bay Capital Management LP boosted its stake in shares of Altice USA by 18.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock worth $17,240,000 after acquiring an additional 823,530 shares during the period. Aigen Investment Management LP bought a new position in shares of Altice USA during the 3rd quarter worth approximately $72,000. Finally, Rafferty Asset Management LLC boosted its stake in shares of Altice USA by 44.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 242,938 shares of the company’s stock worth $794,000 after acquiring an additional 75,280 shares during the period. 54.85% of the stock is currently owned by institutional investors.

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.