Altice USA, Inc. (NYSE:ATUS) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Altice USA, Inc. has received an average rating of "Hold" from six brokerages, with two sell recommendations, one hold, and three buy ratings.
• The company's shares traded up 3.1% to $2.51, following a poor earnings report where it missed estimates with an EPS of ($0.21).
• Large institutional investors have increased their stakes in Altice USA, now owning 54.85% of the company's stock.

Altice USA, Inc. (NYSE:ATUS - Get Free Report) has been assigned an average rating of "Hold" from the six ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $3.00.

ATUS has been the subject of a number of research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Altice USA in a research report on Saturday, September 27th. The Goldman Sachs Group assumed coverage on shares of Altice USA in a research report on Tuesday, September 2nd. They set a "sell" rating and a $2.00 target price for the company.

Altice USA Stock Up 3.1%

Shares of Altice USA stock traded up $0.08 on Friday, hitting $2.51. The company's stock had a trading volume of 3,315,590 shares, compared to its average volume of 4,498,595. The company has a market capitalization of $1.17 billion, a P/E ratio of -4.32 and a beta of 1.59. The firm has a fifty day moving average price of $2.40 and a 200-day moving average price of $2.41. Altice USA has a 52-week low of $1.95 and a 52-week high of $3.20.

Altice USA (NYSE:ATUS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.15). The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business posted $0.03 EPS. The company's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, analysts expect that Altice USA will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Large investors have recently added to or reduced their stakes in the company. HG Vora Capital Management LLC bought a new stake in Altice USA in the first quarter valued at $12,502,000. Hsbc Holdings PLC grew its holdings in Altice USA by 11.4% during the first quarter. Hsbc Holdings PLC now owns 99,025 shares of the company's stock worth $263,000 after acquiring an additional 10,139 shares during the period. Bracebridge Capital LLC increased its stake in Altice USA by 6.0% in the 1st quarter. Bracebridge Capital LLC now owns 9,390,440 shares of the company's stock worth $24,979,000 after purchasing an additional 535,463 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Altice USA in the 1st quarter worth about $81,000. Finally, Invesco Ltd. increased its stake in Altice USA by 207.9% in the 1st quarter. Invesco Ltd. now owns 142,084 shares of the company's stock worth $378,000 after purchasing an additional 95,938 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors.

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.

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