The Goldman Sachs Group Initiates Coverage on Altice USA (NYSE:ATUS)

Stock analysts at The Goldman Sachs Group started coverage on shares of Altice USA (NYSE:ATUS) in a report released on Monday, Briefing.com reports. The firm set a “sell” rating and a $2.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 1.96% from the company’s previous close.

A number of other research analysts have also recently issued reports on ATUS. Evercore ISI reissued an “in-line” rating and issued a $3.00 price objective on shares of Altice USA in a research note on Tuesday, March 26th. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $2.00 to $1.00 in a research note on Friday, April 5th. BNP Paribas lowered shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price on the stock. in a research report on Tuesday, April 9th. Loop Capital cut their target price on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.37.

Altice USA Trading Down 1.0 %

Shares of ATUS opened at $2.04 on Monday. Altice USA has a 12 month low of $1.75 and a 12 month high of $3.82. The firm’s 50 day moving average is $2.20 and its 200-day moving average is $2.40. The stock has a market capitalization of $938.32 million, a PE ratio of 204.00, a P/E/G ratio of 0.64 and a beta of 1.49.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. Equities research analysts predict that Altice USA will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC increased its position in shares of Altice USA by 6.1% during the fourth 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 in the last quarter. Hudson Bay Capital Management LP increased its position in shares of Altice USA by 18.5% during the third quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock worth $17,240,000 after acquiring an additional 823,530 shares in the last quarter. FMR LLC increased its position in shares of Altice USA by 0.6% during the third quarter. FMR LLC now owns 4,767,457 shares of the company’s stock worth $15,590,000 after acquiring an additional 29,995 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Altice USA by 16.6% during the first quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock worth $11,820,000 after purchasing an additional 643,731 shares during the last quarter. Finally, Apollo Management Holdings L.P. boosted its holdings in Altice USA by 4.6% during the first quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock worth $5,955,000 after purchasing an additional 100,000 shares during the last quarter. 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.