Weiss Ratings Reaffirms Sell (D-) Rating for Altice USA (NYSE:ATUS)

Key Points

• Weiss Ratings has reaffirmed asell (D-) rating for Altice USA, indicating ongoing concerns about the company’s performance.
• The stock is currently trading around $2.70, with a consensus rating of "Hold" and an average price target of $3.00 among analysts.
• In the latest quarterly earnings report, Altice USA missed analysts' estimates, reporting a loss of ($0.21) earnings per share.

Altice USA (NYSE:ATUS - Get Free Report)'s stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, The Goldman Sachs Group started coverage on shares of Altice USA in a research report on Tuesday, September 2nd. They set a "sell" rating and a $2.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $3.00.

Altice USA Price Performance

NYSE ATUS traded up $0.12 on Wednesday, reaching $2.70. The company had a trading volume of 5,809,329 shares, compared to its average volume of 3,835,596. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -4.66 and a beta of 1.59. Altice USA has a fifty-two week low of $1.95 and a fifty-two week high of $3.20. The business has a 50 day moving average of $2.40 and a two-hundred day moving average of $2.41.

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

Hedge Funds Weigh In On Altice USA

Large investors have recently added to or reduced their stakes in the business. HG Vora Capital Management LLC bought a new position in Altice USA in the 1st quarter valued at about $12,502,000. Hsbc Holdings PLC increased its stake in Altice USA by 11.4% in the 1st quarter. Hsbc Holdings PLC now owns 99,025 shares of the company's stock valued at $263,000 after buying an additional 10,139 shares during the last quarter. 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 valued at $24,979,000 after buying an additional 535,463 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Altice USA in the 1st quarter valued at 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 valued at $378,000 after buying an additional 95,938 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.

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