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

Altice USA (NYSE:ATUS) had its target price cut by Loop Capital from $3.00 to $2.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI restated an in-line rating and set a $3.00 target price on shares of Altice USA in a research report on Tuesday, March 26th. Benchmark restated a buy rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. Wells Fargo & Company cut Altice USA from an equal weight rating to an underweight rating and reduced their target price for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. reiterated an underweight rating on shares of Altice USA in a research report on Thursday, April 11th. Finally, UBS Group cut their target price on shares of Altice USA from $6.00 to $4.00 and set a buy rating on the stock in a report on Thursday, February 15th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $2.68.

Altice USA Price Performance

Shares of ATUS opened at $2.06 on Tuesday. The firm has a market cap of $937.33 million, a PE ratio of 17.13 and a beta of 1.35. The stock’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.50. Altice USA has a 1 year low of $1.75 and a 1 year high of $3.82.

Altice USA (NYSE:ATUS) last released 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). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Altice USA will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Several hedge funds have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Altice USA by 6.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock valued at $22,264,000 after purchasing an additional 396,275 shares during the last quarter. Hudson Bay Capital Management LP boosted its holdings in 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 acquiring an additional 823,530 shares in the last quarter. FMR LLC grew 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 acquiring an additional 29,995 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Altice USA by 16.6% during the first quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock valued at $11,820,000 after acquiring an additional 643,731 shares in the last quarter. Finally, Federated Hermes Inc. raised its position 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 worth $9,411,000 after purchasing an additional 162,545 shares during the last quarter. 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.