Barclays Issues Pessimistic Forecast for Altice USA (NYSE:ATUS) Stock Price

Altice USA (NYSE:ATUS) had its price objective decreased by analysts at Barclays from $3.00 to $2.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 2.68% from the stock’s previous close.

ATUS has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Altice USA in a research report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Altice USA in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $2.00 target price on the stock. Finally, Zacks Research lowered shares of Altice USA from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $2.60.

Altice USA Stock Down 0.7%

Shares of NYSE ATUS traded down $0.02 during mid-day trading on Friday, reaching $2.06. 370,328 shares of the company were exchanged, compared to its average volume of 3,773,258. Altice USA has a 52 week low of $1.88 and a 52 week high of $3.20. The company’s 50 day moving average price is $2.38 and its 200 day moving average price is $2.38. The stock has a market capitalization of $963.08 million, a PE ratio of -3.54 and a beta of 1.63.

Altice USA (NYSE:ATUS) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($3.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($3.43). The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted ($0.09) EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Altice USA will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently modified their holdings of ATUS. HG Vora Capital Management LLC purchased a new position in Altice USA in the first quarter valued at approximately $12,502,000. Geode Capital Management LLC raised its stake in shares of Altice USA by 114.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,052,090 shares of the company’s stock valued at $12,953,000 after acquiring an additional 3,233,449 shares during the period. Deutsche Bank AG lifted its holdings in shares of Altice USA by 33.9% during the 1st quarter. Deutsche Bank AG now owns 12,761,956 shares of the company’s stock valued at $33,947,000 after acquiring an additional 3,231,838 shares in the last quarter. Empyrean Capital Partners LP boosted its position in Altice USA by 13.6% during the 1st quarter. Empyrean Capital Partners LP now owns 20,100,000 shares of the company’s stock worth $53,466,000 after purchasing an additional 2,400,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Altice USA by 46.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company’s stock valued at $17,016,000 after purchasing an additional 2,031,971 shares in the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

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.