Analysts Set Altice USA, Inc. (NYSE:ATUS) Target Price at $1.97

Shares of Altice USA, Inc. (NYSE:ATUS) have been assigned an average rating of “Reduce” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $1.97.

Several equities analysts have weighed in on ATUS shares. The Goldman Sachs Group started coverage on Altice USA in a report on Monday, July 1st. They set a “sell” rating and a $2.00 price target for the company. Evercore ISI cut their price target on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and cut their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd.

Altice USA Trading Down 3.3 %

NYSE:ATUS opened at $2.31 on Friday. Altice USA has a 12-month low of $1.52 and a 12-month high of $3.66. The stock has a 50-day moving average price of $2.12 and a 200 day moving average price of $2.10. The stock has a market capitalization of $1.06 billion, a P/E ratio of 231.00, a P/E/G ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, research analysts predict that Altice USA will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Several institutional investors have recently modified their holdings of ATUS. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Altice USA during the 2nd quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in shares of Altice USA during the 1st quarter worth approximately $46,000. Quadrature Capital Ltd bought a new stake in shares of Altice USA during the 4th quarter worth approximately $47,000. Alpine Global Management LLC bought a new stake in shares of Altice USA during the 1st quarter worth approximately $65,000. Finally, Swedbank AB bought a new stake in shares of Altice USA during the 1st quarter worth approximately $66,000. 54.85% of the stock is owned by institutional investors.

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.