Altice USA, Inc. (NYSE:ATUS) Given Average Rating of “Reduce” by Brokerages

Altice USA, Inc. (NYSE:ATUS) has earned a consensus recommendation of “Reduce” from the six analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.55.

A number of brokerages have recently issued reports on ATUS. Evercore ISI set a $2.50 target price on Altice USA in a research report on Friday, November 7th. Barclays dropped their price objective on Altice USA from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Altice USA in a research report on Wednesday, October 8th. The Goldman Sachs Group began coverage on shares of Altice USA in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $2.00 target price on the stock. Finally, Citigroup decreased their price target on Altice USA from $3.25 to $2.75 and set a “buy” rating for the company in a research note on Wednesday, November 12th.

Altice USA Trading Up 1.1%

ATUS opened at $1.79 on Wednesday. The company has a fifty day simple moving average of $2.03 and a 200 day simple moving average of $2.26. The firm has a market cap of $841.00 million, a price-to-earnings ratio of -0.45 and a beta of 1.63. Altice USA has a twelve month low of $1.74 and a twelve month high of $3.20.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($3.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Altice USA’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, analysts forecast that Altice USA will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ATUS. Vanguard Group Inc. grew its position in shares of Altice USA by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,403,757 shares of the company’s stock valued at $66,043,000 after buying an additional 650,087 shares during the last quarter. Empyrean Capital Partners LP grew its holdings in shares of Altice USA by 13.6% during the first quarter. Empyrean Capital Partners LP now owns 20,100,000 shares of the company’s stock valued at $53,466,000 after purchasing an additional 2,400,000 shares during the last quarter. Millennium Management LLC raised its position in shares of Altice USA by 31.0% during the 3rd quarter. Millennium Management LLC now owns 11,463,764 shares of the company’s stock worth $27,628,000 after purchasing an additional 2,711,903 shares during the period. Bracebridge Capital LLC lifted its holdings in shares of Altice USA by 6.0% in the 1st quarter. Bracebridge Capital LLC now owns 9,390,440 shares of the company’s stock worth $24,979,000 after purchasing an additional 535,463 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Altice USA by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,803,557 shares of the company’s stock valued at $21,217,000 after purchasing an additional 879,589 shares during the period. 54.85% of the stock is owned by institutional investors and hedge funds.

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.