Altice USA (NYSE:ATUS) Shares Gap Down to $2.34

Shares of Altice USA, Inc. (NYSE:ATUS) gapped down before the market opened on Thursday . The stock had previously closed at $2.34, but opened at $2.24. Altice USA shares last traded at $2.26, with a volume of 272,312 shares trading hands.

Analyst Upgrades and Downgrades

ATUS has been the subject of several research reports. Evercore ISI reiterated an “in-line” rating and set a $3.00 price objective on shares of Altice USA in a research report on Tuesday, March 26th. Wells Fargo & Company lowered shares of Altice USA from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $2.00 to $1.00 in a report on Friday, April 5th. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Altice USA in a 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 target price for the company. in a report on Tuesday. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a report on Thursday. Four analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Altice USA presently has a consensus rating of “Hold” and an average target price of $2.90.

Altice USA Stock Performance

The business’s fifty day moving average is $2.44 and its two-hundred day moving average is $2.58. The company has a market cap of $994.34 million, a P/E ratio of 18.17 and a beta of 1.35.

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 analysts’ consensus estimates of $0.07 by ($0.33). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.43) EPS. Analysts expect that Altice USA, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Comerica Bank grew its position in shares of Altice USA by 579.0% in the 3rd quarter. Comerica Bank now owns 8,555 shares of the company’s stock worth $28,000 after buying an additional 7,295 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of Altice USA in the 2nd quarter worth approximately $30,000. Montag A & Associates Inc. purchased a new position in shares of Altice USA in the 4th quarter worth approximately $32,000. Equitable Holdings Inc. purchased a new position in shares of Altice USA in the 1st quarter worth approximately $34,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Altice USA in the 3rd quarter worth approximately $37,000. 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.