Altice USA (NYSE:ATUS) Trading Down 7.5%

Altice USA, Inc. (NYSE:ATUS - Get Free Report)'s share price dropped 7.5% during mid-day trading on Tuesday . The company traded as low as $1.97 and last traded at $1.97. Approximately 632,848 shares traded hands during trading, a decline of 84% from the average daily volume of 3,917,954 shares. The stock had previously closed at $2.13.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a "buy" rating and set a $5.00 price target on shares of Altice USA in a research report on Wednesday, March 20th. Bank of America began coverage on Altice USA in a report on Wednesday, April 24th. They set an "underperform" rating and a $1.50 price target on the stock. Wells Fargo & Company lowered Altice USA from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $2.00 to $1.00 in a report on Friday, April 5th. Evercore ISI reiterated an "in-line" rating and issued a $3.00 target price on shares of Altice USA in a research note on Tuesday, March 26th. Finally, BNP Paribas lowered Altice USA from a "neutral" rating to an "underperform" rating and set a $1.00 target price on the stock. in a research note on Tuesday, April 9th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.68.

Altice USA Stock Performance

The company has a 50 day moving average price of $2.42 and a 200 day moving average price of $2.48. The firm has a market cap of $880.31 million, a price-to-earnings ratio of 17.75 and a beta of 1.35.

Altice USA (NYSE:ATUS - Get Free Report) last posted 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). Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the prior year, the firm posted ($0.43) EPS. Altice USA's quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts forecast that Altice USA, Inc. will post 0.24 earnings per share for the current year.

Institutional Trading of Altice USA

Large investors have recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC lifted its position in Altice USA by 6.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company's stock worth $22,264,000 after acquiring an additional 396,275 shares during the period. Hudson Bay Capital Management LP increased its stake in Altice USA by 18.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company's stock valued at $17,240,000 after purchasing an additional 823,530 shares in the last quarter. FMR LLC increased its stake in Altice USA by 0.6% in the 3rd quarter. FMR LLC now owns 4,767,457 shares of the company's stock valued at $15,590,000 after purchasing an additional 29,995 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Altice USA by 16.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company's stock valued at $11,820,000 after purchasing an additional 643,731 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Altice USA by 6.0% in the 3rd quarter. Federated Hermes Inc. now owns 2,877,879 shares of the company's stock valued at $9,411,000 after purchasing an additional 162,545 shares in the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

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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