Altice USA (NYSE:ATUS) Shares Gap Down to $2.04

Altice USA, Inc. (NYSE:ATUS) shares gapped down prior to trading on Monday . The stock had previously closed at $2.04, but opened at $1.97. Altice USA shares last traded at $2.06, with a volume of 251,376 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Loop Capital reduced their price objective on Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Benchmark restated a “buy” rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. BNP Paribas downgraded Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price for the company. in a research report on Tuesday, April 9th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Finally, Wells Fargo & Company downgraded Altice USA from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. Six research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Altice USA has an average rating of “Hold” and a consensus target price of $2.37.

Altice USA Stock Performance

The company has a 50-day simple moving average of $2.20 and a 200-day simple moving average of $2.40. The stock has a market cap of $919.92 million, a P/E ratio of 204.00, a P/E/G ratio of 0.64 and a beta of 1.49.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The business 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 company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. As a group, sell-side analysts expect that Altice USA, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Montag A & Associates Inc. acquired a new stake in shares of Altice USA in the 4th quarter valued at $32,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Altice USA in the 3rd quarter valued at $37,000. Headlands Technologies LLC acquired a new stake in shares of Altice USA in the 1st quarter valued at $46,000. Quadrature Capital Ltd acquired a new stake in shares of Altice USA in the 4th quarter valued at $47,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Altice USA in the 1st quarter valued at $65,000. 54.85% of the stock is owned by institutional investors and hedge funds.

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.