Altice USA, Inc. (NYSE:ATUS) Receives $2.75 Consensus Target Price from Brokerages

Altice USA, Inc. (NYSE:ATUS - Get Free Report) has been given a consensus rating of "Hold" by the seven ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $2.75.

Several analysts have issued reports on ATUS shares. The Goldman Sachs Group boosted their price target on Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a report on Friday, May 9th. Raymond James upgraded Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price objective for the company in a research note on Tuesday, February 18th. Finally, Barclays raised their target price on shares of Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $25,000. DoubleLine ETF Adviser LP purchased a new position in Altice USA during the first quarter valued at $29,000. Raymond James Financial Inc. bought a new stake in Altice USA in the 4th quarter valued at $30,000. R Squared Ltd lifted its stake in Altice USA by 56.0% in the 1st quarter. R Squared Ltd now owns 15,490 shares of the company's stock worth $41,000 after purchasing an additional 5,560 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Altice USA in the 4th quarter worth $43,000. 54.85% of the stock is currently owned by institutional investors.

Altice USA Trading Down 4.4%

NYSE ATUS traded down $0.10 during trading hours on Friday, hitting $2.16. 1,997,254 shares of the company's stock traded hands, compared to its average volume of 3,320,889. Altice USA has a 52 week low of $1.52 and a 52 week high of $3.20. The firm has a market capitalization of $1.01 billion, a P/E ratio of -9.39 and a beta of 1.65. The business's fifty day moving average price is $2.43 and its two-hundred day moving average price is $2.56.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. Altice USA's revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, sell-side analysts expect that Altice USA will post -0.24 EPS for the current fiscal year.

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.