Altice USA (NYSE:ATUS) Coverage Initiated at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has reaffirmed a "sell" rating for Altice USA (NYSE: ATUS) with a target price of $2.00, indicating a potential downside of 14.35% from its previous close.
• In contrast, Barclays raised its price target for Altice USA from $2.00 to $3.00 and assigned an "equal weight" rating, while the average rating for the stock remains at "Hold" with a price target of $3.00.
• Altice USA's recent quarterly earnings report showed a Earnings Per Share (EPS) of ($0.21), missing estimates, and a year-over-year revenue decline of 4.2% to $2.15 billion.

Investment analysts at The Goldman Sachs Group initiated coverage on shares of Altice USA (NYSE:ATUS - Get Free Report) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a "sell" rating and a $2.00 price target on the stock. The Goldman Sachs Group's price objective suggests a potential downside of 14.71% from the company's current price.

Separately, Barclays boosted their price target on Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $3.00.

Altice USA Trading Up 0.2%

ATUS traded up $0.01 during midday trading on Tuesday, hitting $2.35. The company's stock had a trading volume of 150,870 shares, compared to its average volume of 3,741,468. Altice USA has a 52-week low of $1.70 and a 52-week high of $3.20. The firm has a market cap of $1.10 billion, a P/E ratio of -4.06 and a beta of 1.57. The firm has a 50-day moving average price of $2.42 and a two-hundred day moving average price of $2.45.

Altice USA (NYSE:ATUS - Get Free Report) last issued 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 firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $0.03 EPS. The business's revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts expect that Altice USA will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ATUS. DoubleLine ETF Adviser LP purchased a new stake in shares of Altice USA during the first quarter valued at $29,000. May Hill Capital LLC purchased a new stake in shares of Altice USA during the second quarter valued at $29,000. Raymond James Financial Inc. purchased a new stake in shares of Altice USA during the fourth quarter valued at $30,000. R Squared Ltd lifted its holdings in shares of Altice USA by 56.0% during the first quarter. R Squared Ltd now owns 15,490 shares of the company's stock valued at $41,000 after purchasing an additional 5,560 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Altice USA by 251.5% during the second quarter. CWM LLC now owns 22,280 shares of the company's stock valued at $48,000 after purchasing an additional 15,941 shares during the last quarter. 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.