Altice USA (NYSE:ATUS) Shares Gap Down to $2.57

Altice USA, Inc. (NYSE:ATUS) gapped down before the market opened on Friday . The stock had previously closed at $2.57, but opened at $2.38. Altice USA shares last traded at $2.33, with a volume of 1,151,168 shares traded.

Wall Street Analyst Weigh In

ATUS has been the subject of a number of recent analyst reports. UBS Group lowered their target price 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. Evercore ISI reaffirmed an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. Wells Fargo & Company lowered shares of Altice USA from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $2.00 to $1.00 in a research note on Friday. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. Finally, BNP Paribas upgraded shares of Altice USA from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.11.

Altice USA Stock Performance

The company’s fifty day moving average is $2.46 and its two-hundred day moving average is $2.62. The company has a market cap of $980.66 million, a price-to-earnings ratio of 19.58 and a beta of 1.35.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.33). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the company posted ($0.43) EPS. Altice USA’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Altice USA, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of ATUS. Nomura Holdings Inc. lifted its position in shares of Altice USA by 343.0% during the 4th quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock valued at $995,000 after buying an additional 236,933 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Altice USA during the 4th quarter valued at approximately $47,000. Readystate Asset Management LP lifted its position in shares of Altice USA by 236.7% during the 4th quarter. Readystate Asset Management LP now owns 446,626 shares of the company’s stock valued at $1,452,000 after buying an additional 313,970 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Altice USA by 2.8% during the 4th quarter. Legal & General Group Plc now owns 320,507 shares of the company’s stock valued at $1,042,000 after buying an additional 8,627 shares in the last quarter. Finally, Barclays PLC raised its stake in Altice USA by 442.4% in the 4th quarter. Barclays PLC now owns 436,188 shares of the company’s stock valued at $1,417,000 after purchasing an additional 355,763 shares during the last quarter. Institutional investors and hedge funds 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.