Altice USA (NYSE:ATUS – Get Free Report)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a report issued on Friday, Benzinga reports. They presently have a $3.00 price target on the stock. Morgan Stanley’s price target would suggest a potential downside of 20.63% from the stock’s current price.
A number of other research firms also recently weighed in on ATUS. TheStreet downgraded Altice USA from a “c-” rating to a “d” rating in a research note on Monday, May 1st. Loop Capital lowered their price objective on shares of Altice USA from $12.00 to $3.00 in a research report on Thursday, May 4th. Pivotal Research decreased their price objective on Altice USA from $4.50 to $3.00 in a report on Friday, May 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Altice USA from $4.50 to $4.75 in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.06.
Check Out Our Latest Research Report on Altice USA
Altice USA Trading Up 4.4 %
NYSE ATUS traded up $0.16 during trading hours on Friday, reaching $3.78. 2,189,574 shares of the company’s stock were exchanged, compared to its average volume of 4,443,125. The stock has a market cap of $1.72 billion, a PE ratio of -376.62 and a beta of 1.42. Altice USA has a one year low of $2.01 and a one year high of $12.28. The firm has a fifty day moving average of $2.95 and a 200-day moving average of $3.42.
Altice USA (NYSE:ATUS – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. Altice USA had a negative return on equity of 16.96% and a negative net margin of 0.04%. Altice USA’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. As a group, research analysts forecast that Altice USA will post 0.31 EPS for the current year.
Hedge Funds Weigh In On Altice USA
Several hedge funds and other institutional investors have recently bought and sold shares of ATUS. AQR Capital Management LLC grew its position in shares of Altice USA by 514.8% during the 4th quarter. AQR Capital Management LLC now owns 12,069,565 shares of the company’s stock valued at $54,494,000 after acquiring an additional 10,106,315 shares during the period. Bank of America Corp DE lifted its stake in Altice USA by 916.5% in the 1st quarter. Bank of America Corp DE now owns 10,064,744 shares of the company’s stock worth $34,421,000 after purchasing an additional 9,074,653 shares in the last quarter. Marshall Wace LLP lifted its stake in Altice USA by 200.0% in the 4th quarter. Marshall Wace LLP now owns 7,926,226 shares of the company’s stock worth $36,461,000 after purchasing an additional 5,284,411 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of Altice USA by 3,035.2% in the 1st quarter. Hudson Bay Capital Management LP now owns 4,822,657 shares of the company’s stock worth $16,493,000 after buying an additional 4,668,832 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Altice USA by 102.8% in the 4th quarter. Morgan Stanley now owns 7,544,069 shares of the company’s stock worth $34,703,000 after buying an additional 3,823,987 shares during the last quarter. Institutional investors and hedge funds own 56.48% 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.
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