Altice USA (NYSE:ATUS) Hits New 12-Month Low – Here’s What Happened

Altice USA, Inc. (NYSE:ATUS) reached a new 52-week low on Thursday . The stock traded as low as $1.88 and last traded at $2.0950, with a volume of 2594879 shares traded. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research downgraded Altice USA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Altice USA in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group started coverage on Altice USA in a report on Tuesday, September 2nd. They issued a “sell” rating and a $2.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $2.88.

Altice USA Stock Performance

The business has a fifty day moving average price of $2.39 and a 200 day moving average price of $2.39. The company has a market capitalization of $953.70 million, a PE ratio of -3.53 and a beta of 1.63.

Altice USA (NYSE:ATUS) last posted its earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.15). The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $0.03 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Research analysts forecast that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Large investors have recently modified their holdings of the stock. HG Vora Capital Management LLC acquired a new stake in shares of Altice USA in the first quarter valued at about $12,502,000. Allianz Asset Management GmbH acquired a new stake in shares of Altice USA in the second quarter valued at about $579,000. Hsbc Holdings PLC grew its stake in shares of Altice USA by 11.4% in the first quarter. Hsbc Holdings PLC now owns 99,025 shares of the company’s stock valued at $263,000 after buying an additional 10,139 shares in the last quarter. Bracebridge Capital LLC grew its stake in shares of Altice USA by 6.0% in the first quarter. Bracebridge Capital LLC now owns 9,390,440 shares of the company’s stock valued at $24,979,000 after buying an additional 535,463 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Altice USA in the first quarter valued at about $81,000. Institutional investors and hedge funds own 54.85% 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.