Loop Capital Trims Altice USA (NYSE:ATUS) Target Price to $2.00

Altice USA (NYSE:ATUS) had its price objective decreased by Loop Capital from $3.00 to $2.00 in a research report released on Tuesday morning, Benzinga reports. Loop Capital currently has a hold rating on the stock.

A number of other brokerages also recently issued reports on ATUS. Benchmark reiterated a buy rating and issued a $5.00 price target on shares of Altice USA in a research note on Wednesday, March 20th. Evercore ISI reiterated an in-line rating and issued a $3.00 price target on shares of Altice USA in a research note on Tuesday, March 26th. BNP Paribas downgraded shares of Altice USA from a neutral rating to an underperform rating and set a $1.00 price objective for the company. in a research report on Tuesday, April 9th. UBS Group reduced their price objective on shares of Altice USA from $6.00 to $4.00 and set a buy rating for the company in a research report on Thursday, February 15th. Finally, Wells Fargo & Company downgraded shares of 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. Five research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $2.68.

Altice USA Stock Performance

NYSE ATUS opened at $1.95 on Tuesday. The firm has a 50 day simple moving average of $2.41 and a 200-day simple moving average of $2.51. Altice USA has a one year low of $1.75 and a one year high of $3.82. The firm has a market cap of $889.43 million, a price-to-earnings ratio of 16.25 and a beta of 1.35.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the firm earned ($0.43) EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Altice USA will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Altice USA

A number of institutional investors have recently modified their holdings of the business. Thompson Siegel & Walmsley LLC increased its holdings in shares of Altice USA by 6.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock valued at $22,264,000 after acquiring an additional 396,275 shares during the period. Hudson Bay Capital Management LP increased its stake in 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 buying an additional 823,530 shares during the period. FMR LLC increased its stake in Altice USA by 0.6% in the 3rd quarter. FMR LLC now owns 4,767,457 shares of the company’s stock valued at $15,590,000 after buying an additional 29,995 shares during the period. Assenagon Asset Management S.A. increased its stake in Altice USA by 16.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,528,572 shares of the company’s stock valued at $11,820,000 after buying an additional 643,731 shares during the period. Finally, Federated Hermes Inc. increased its stake in Altice USA by 6.0% in the 3rd quarter. Federated Hermes Inc. now owns 2,877,879 shares of the company’s stock valued at $9,411,000 after buying an additional 162,545 shares during the period. 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.