Altice USA (NYSE:ATUS) Downgraded by BNP Paribas to “Underperform”

BNP Paribas downgraded shares of Altice USA (NYSE:ATUS) from a neutral rating to an underperform rating in a research note released on Tuesday, MarketBeat.com reports. They currently have $1.00 price target on the stock.

A number of other brokerages have also issued reports on ATUS. Benchmark reaffirmed a buy rating and issued a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. Wells Fargo & Company cut shares of Altice USA from an equal weight rating to an underweight rating and dropped their price objective for the stock from $2.00 to $1.00 in a report on Friday, April 5th. Evercore ISI reissued an in-line rating and set a $3.00 price target on shares of Altice USA in a report on Tuesday, March 26th. Finally, UBS Group decreased their price target on Altice USA from $6.00 to $4.00 and set a buy rating for the company in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $2.90.

Altice USA Stock Down 5.2 %

Shares of ATUS opened at $2.18 on Tuesday. The company’s fifty day moving average is $2.44 and its two-hundred day moving average is $2.58. Altice USA has a fifty-two week low of $1.75 and a fifty-two week high of $3.82. The firm has a market cap of $994.34 million, a PE ratio of 18.17 and a beta of 1.35.

Altice USA (NYSE:ATUS) last posted its 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). The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) EPS. As a group, equities research analysts anticipate that Altice USA will post 0.22 earnings per share for the current year.

Institutional Trading of Altice USA

Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC boosted its position in Altice USA by 9.6% during the second quarter. LPL Financial LLC now owns 20,815 shares of the company’s stock valued at $193,000 after purchasing an additional 1,830 shares during the last quarter. First Republic Investment Management Inc. raised its stake in Altice USA by 10.2% during the first quarter. First Republic Investment Management Inc. now owns 21,131 shares of the company’s stock worth $264,000 after acquiring an additional 1,953 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Altice USA by 2.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 107,242 shares of the company’s stock worth $493,000 after buying an additional 2,249 shares in the last quarter. Covestor Ltd lifted its position in Altice USA by 798.9% during the 1st quarter. Covestor Ltd now owns 3,353 shares of the company’s stock worth $42,000 after buying an additional 2,980 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in Altice USA by 9.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 36,200 shares of the company’s stock worth $452,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors and hedge funds 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.