Altice USA (NYSE:ATUS) Trading Down 3.6%

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares fell 3.6% during mid-day trading on Monday . The company traded as low as $2.11 and last traded at $2.12. 75,031 shares were traded 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

Several research firms recently weighed in on ATUS. The Goldman Sachs Group assumed coverage on Altice USA in a report on Monday, July 1st. They issued a "sell" rating and a $2.00 price objective for the company. UBS Group cut shares of Altice USA from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Finally, Evercore ISI cut their price objective on shares of Altice USA from $3.00 to $2.00 and set an "in-line" rating on the stock in a report on Tuesday, July 2nd. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Altice USA currently has a consensus rating of "Hold" and a consensus price target of $1.97.

Altice USA Stock Performance

The stock has a market cap of $944.19 million, a PE ratio of 205.00, a price-to-earnings-growth ratio of 2.83 and a beta of 1.51. The firm has a fifty day moving average price of $1.83 and a 200 day moving average price of $2.16.

Altice USA (NYSE:ATUS - Get Free Report) last released its quarterly 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). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter last year, the business posted $0.17 earnings per share. The company's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in shares of Altice USA by 38.1% during the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company's stock worth $101,000 after purchasing an additional 8,600 shares during the period. CastleKnight Management LP boosted its holdings in shares of Altice USA by 676.6% in 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 during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Altice USA in the first quarter worth $1,914,000. Quadrature Capital Ltd purchased a new position in shares of Altice USA during the fourth quarter worth $47,000. Finally, Nomura Holdings Inc. lifted its position in Altice USA by 343.0% during the fourth quarter. Nomura Holdings Inc. now owns 306,009 shares of the company's stock valued at $995,000 after purchasing an additional 236,933 shares during the period. 54.85% of the stock is currently 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.