Altice USA (NYSE:ATUS) Given New $2.00 Price Target at Loop Capital

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

Several other analysts also recently weighed in on ATUS. UBS Group lowered their price target on shares of Altice USA from $6.00 to $4.00 and set a buy rating for the company in a research note on Thursday, February 15th. BNP Paribas downgraded shares of Altice USA from a neutral rating to an underperform rating and set a $1.00 price target for the company. in a research note on Tuesday, April 9th. Benchmark reissued a buy rating and issued a $5.00 price target on shares of Altice USA in a research note on Wednesday, March 20th. Evercore ISI restated an in-line rating and issued a $3.00 price objective on shares of Altice USA in a research report on Tuesday, March 26th. Finally, Wells Fargo & Company cut shares of 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 research report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $2.80.

Altice USA Stock Performance

NYSE ATUS opened at $1.91 on Tuesday. Altice USA has a 52-week low of $1.75 and a 52-week high of $3.82. The company has a market capitalization of $871.19 million, a P/E ratio of 15.92 and a beta of 1.35. The company has a fifty day moving average of $2.42 and a 200-day moving average of $2.51.

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 company 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 business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) earnings per share. As a group, analysts forecast that Altice USA will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently modified their holdings of ATUS. Assenagon Asset Management S.A. increased its position in shares of Altice USA by 79.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock valued at $12,626,000 after buying an additional 1,724,851 shares during the period. CastleKnight Management LP increased its position in shares of Altice USA by 676.6% during the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock valued at $4,744,000 after buying an additional 1,271,734 shares during the period. Hudson Bay Capital Management LP increased its position in shares of Altice USA by 18.5% during the third quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock valued at $17,240,000 after buying an additional 823,530 shares during the period. LB Partners LLC purchased a new position in shares of Altice USA during the fourth quarter valued at about $1,636,000. Finally, Thompson Siegel & Walmsley LLC increased its position 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 buying an additional 396,275 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.