Altice USA (NYSE:ATUS) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Altice USA (NYSE:ATUS) had its price target upped by equities researchers at The Goldman Sachs Group from $2.00 to $2.25 in a report issued on Friday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 14.45% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Raymond James raised shares of Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a research report on Tuesday, February 18th. Barclays increased their price objective on Altice USA from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Altice USA presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Altice USA Price Performance

Shares of ATUS stock opened at $2.63 on Friday. Altice USA has a fifty-two week low of $1.52 and a fifty-two week high of $3.20. The stock’s 50-day moving average is $2.48 and its two-hundred day moving average is $2.58. The firm has a market cap of $1.22 billion, a P/E ratio of -11.43 and a beta of 1.65.

Altice USA (NYSE:ATUS) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, research analysts expect that Altice USA will post -0.24 EPS for the current year.

Institutional Trading of Altice USA

Hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC bought a new position in Altice USA in the 4th quarter worth approximately $25,000. Raymond James Financial Inc. bought a new position in Altice USA during the fourth quarter worth $30,000. R Squared Ltd raised its stake in Altice USA by 56.0% during the 1st quarter. R Squared Ltd now owns 15,490 shares of the company’s stock valued at $41,000 after purchasing an additional 5,560 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Altice USA in the 4th quarter valued at $43,000. Finally, State of Wyoming acquired a new stake in Altice USA in the 4th quarter worth $57,000. 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.