Altice USA (NYSE:ATUS) Given “Underweight” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Altice USA (NYSE:ATUS) in a report published on Thursday, MarketBeat Ratings reports.

Several other brokerages also recently issued reports on ATUS. UBS Group decreased their price objective 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 reiterated an in-line rating and issued a $3.00 price target on shares of Altice USA in a report on Tuesday, March 26th. BNP Paribas lowered Altice USA from a neutral rating to an underperform rating and set a $1.00 price target for the company. in a report on Tuesday. Wells Fargo & Company lowered Altice USA from an equal weight rating to an underweight rating and lowered their price target for the company from $2.00 to $1.00 in a report on Friday, April 5th. Finally, Benchmark reissued a buy rating and issued a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $2.90.

Altice USA Trading Down 1.7 %

Shares of NYSE:ATUS opened at $2.30 on Thursday. Altice USA has a 12 month low of $1.75 and a 12 month high of $3.82. The company has a 50-day moving average price of $2.44 and a 200 day moving average price of $2.59. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 19.17 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 (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.33). The firm had revenue of $2.30 billion during 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 firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) EPS. As a group, equities analysts forecast that Altice USA will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Altice USA

A number of large investors have recently made changes to their positions in ATUS. AQR Capital Management LLC increased its position in shares of Altice USA by 514.8% during the fourth quarter. AQR Capital Management LLC now owns 12,069,565 shares of the company’s stock worth $54,494,000 after purchasing an additional 10,106,315 shares in the last quarter. Bank of America Corp DE increased its position in shares of Altice USA by 916.5% during the first quarter. Bank of America Corp DE now owns 10,064,744 shares of the company’s stock worth $34,421,000 after purchasing an additional 9,074,653 shares in the last quarter. Hudson Bay Capital Management LP increased its position in shares of Altice USA by 3,035.2% during the first quarter. Hudson Bay Capital Management LP now owns 4,822,657 shares of the company’s stock worth $16,493,000 after purchasing an additional 4,668,832 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Altice USA during the fourth quarter valued at $13,667,000. Finally, Morgan Stanley grew its holdings in shares of Altice USA by 102.8% during the fourth quarter. Morgan Stanley now owns 7,544,069 shares of the company’s stock valued at $34,703,000 after buying an additional 3,823,987 shares during the last quarter. 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.