Altice USA (NYSE:ATUS) Given New $2.00 Price Target at Evercore ISI

Altice USA (NYSE:ATUS) had its price target decreased by Evercore ISI from $3.00 to $2.00 in a report released on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

ATUS has been the subject of a number of other reports. The Goldman Sachs Group began coverage on shares of Altice USA in a research report on Monday. They issued a sell rating and a $2.00 target price for the company. BNP Paribas lowered Altice USA from a neutral rating to an underperform rating and set a $1.00 price target for the company. in a research report on Tuesday, April 9th. Wells Fargo & Company downgraded Altice USA from an equal weight rating to an underweight rating and reduced their price objective for the stock from $2.00 to $1.00 in a research report on Friday, April 5th. Benchmark reaffirmed a buy rating and issued a $5.00 target price on shares of Altice USA in a research note on Wednesday, March 20th. Finally, Loop Capital lowered their price target 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. Six analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $2.27.

Altice USA Stock Performance

Altice USA stock opened at $2.02 on Tuesday. The company’s fifty day moving average price is $2.21 and its 200 day moving average price is $2.40. The stock has a market capitalization of $929.12 million, a P/E ratio of 203.00, a P/E/G ratio of 0.64 and a beta of 1.49. Altice USA has a 1 year low of $1.75 and a 1 year high of $3.82.

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

Hedge Funds Weigh In On Altice USA

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its holdings in Altice USA by 79.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,884,841 shares of the company’s stock valued at $12,626,000 after buying an additional 1,724,851 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Altice USA by 38.1% during the 4th quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock worth $101,000 after acquiring an additional 8,600 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of Altice USA by 18.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 5,272,274 shares of the company’s stock valued at $17,240,000 after acquiring an additional 823,530 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Altice USA by 6.1% during the 4th 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. Finally, CastleKnight Management LP lifted its stake in Altice USA by 676.6% during the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock worth $4,744,000 after purchasing an additional 1,271,734 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.