Altice USA (NYSE:ATUS) Shares Gap Up to $1.94

Altice USA, Inc. (NYSE:ATUS - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $1.94, but opened at $2.00. Altice USA shares last traded at $1.94, with a volume of 762,961 shares trading hands.

Analysts Set New Price Targets

Several analysts have commented on ATUS shares. 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 report on Friday, April 5th. Benchmark restated a "buy" rating and set a $5.00 price target on shares of Altice USA in a research report on Wednesday, March 20th. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Altice USA in a report on Thursday, April 11th. UBS Group dropped their target price on shares of Altice USA from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, February 15th. Finally, Evercore ISI reiterated an "in-line" rating and issued a $3.00 price target on shares of Altice USA in a research note on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.90.

Altice USA Trading Up 0.5 %

The stock's 50 day moving average is $2.44 and its 200-day moving average is $2.55. The company has a market cap of $889.43 million, a P/E ratio of 16.25 and a beta of 1.35.

Altice USA (NYSE:ATUS - Get Free Report) last issued its earnings results 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). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the company posted ($0.43) EPS. The company's quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Altice USA, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Altice USA by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 771,039 shares of the company's stock worth $9,623,000 after acquiring an additional 37,677 shares during the period. American Century Companies Inc. boosted its holdings in shares of Altice USA by 22.7% in the first quarter. American Century Companies Inc. now owns 23,401 shares of the company's stock worth $292,000 after buying an additional 4,336 shares during the last quarter. Cetera Advisor Networks LLC grew its position in Altice USA by 35.6% during the first quarter. Cetera Advisor Networks LLC now owns 13,674 shares of the company's stock valued at $171,000 after buying an additional 3,588 shares during the period. Acadian Asset Management LLC purchased a new stake in Altice USA during the first quarter valued at approximately $351,000. Finally, MetLife Investment Management LLC bought a new position in Altice USA in the first quarter worth approximately $134,000. Institutional investors 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.