Altice USA (NYSE:ATUS) Shares Down 3.6%

Altice USA, Inc. (NYSE:ATUS) shares traded down 3.6% during trading on Monday . The stock traded as low as $2.11 and last traded at $2.12. 75,031 shares traded hands during trading, a decline of 98% from the average session volume of 3,558,822 shares. The stock had previously closed at $2.20.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATUS. Evercore ISI cut their target price on Altice USA from $3.00 to $2.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group began coverage on shares of Altice USA in a research note on Monday, July 1st. They set a “sell” rating and a $2.00 price target on the stock. Finally, UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $4.00 to $2.00 in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $1.97.

Altice USA Price Performance

The firm has a market capitalization of $967.22 million, a PE ratio of 204.00, a price-to-earnings-growth ratio of 2.83 and a beta of 1.51. The stock has a 50-day moving average price of $1.83 and a 200-day moving average price of $2.16.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The company had revenue of $2.24 billion during the quarter, compared to analyst estimates 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 revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, equities research analysts predict that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ATUS. King Street Capital Management L.P. purchased a new position in shares of Altice USA during the 2nd quarter valued at $5,100,000. Empyrean Capital Partners LP purchased a new position in shares of Altice USA during the 2nd quarter valued at $4,080,000. CastleKnight Management LP grew its holdings in shares of Altice USA by 676.6% during the 4th quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock valued at $4,744,000 after acquiring an additional 1,271,734 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Altice USA during the 1st quarter valued at $1,914,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Altice USA by 16.6% during 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 acquiring an additional 643,731 shares in the last quarter. Institutional investors own 54.85% of the company’s stock.

Altice USA Company Profile

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.