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

Key Points

• Weiss Ratings reaffirmed a "Sell (D-)" rating for Altice USA (NYSE: ATUS), indicating ongoing concerns about the company's performance.
• Altice USA's stock recently traded at $2.17, with a consensus target price of $3.00 and a market capitalization of $1.01 billion.
• Recent earnings results showed Altice USA reporting a loss of ($0.21) EPS, missing expectations, and reflecting a 4.2% year-over-year revenue decline.

Altice USA (NYSE:ATUS - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

ATUS has been the subject of a number of other reports. The Goldman Sachs Group assumed coverage on shares of Altice USA in a research report on Tuesday, September 2nd. They issued a "sell" rating and a $2.00 price objective for the company. Zacks Research cut shares of Altice USA from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Altice USA currently has a consensus rating of "Hold" and an average target price of $3.00.

Altice USA Stock Down 0.2%

Shares of Altice USA stock traded down $0.01 during trading on Friday, hitting $2.17. 1,324,355 shares of the company were exchanged, compared to its average volume of 3,785,134. Altice USA has a fifty-two week low of $1.95 and a fifty-two week high of $3.20. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.73 and a beta of 1.59. The firm has a 50 day moving average price of $2.42 and a 200 day moving average price of $2.40.

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. Analysts predict that Altice USA will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in shares of Altice USA by 262.1% during the 3rd quarter. SG Americas Securities LLC now owns 48,042 shares of the company's stock valued at $116,000 after acquiring an additional 34,774 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Altice USA during the third quarter worth approximately $73,000. Assenagon Asset Management S.A. raised its stake in shares of Altice USA by 785.9% during the third quarter. Assenagon Asset Management S.A. now owns 246,194 shares of the company's stock worth $593,000 after buying an additional 218,403 shares during the last quarter. Corient Private Wealth LLC increased its stake in Altice USA by 1,990.0% in the second quarter. Corient Private Wealth LLC now owns 211,088 shares of the company's stock valued at $452,000 after purchasing an additional 200,988 shares in the last quarter. Finally, State of Wyoming increased its stake in Altice USA by 144.2% in the second quarter. State of Wyoming now owns 114,918 shares of the company's stock valued at $246,000 after purchasing an additional 67,850 shares in 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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