Altice USA (NYSE:ATUS) Shares Gap Up to $1.94

Altice USA, Inc. (NYSE:ATUS) gapped up before the market opened on Wednesday . The stock had previously closed at $1.94, but opened at $2.00. Altice USA shares last traded at $1.94, with a volume of 762,961 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ATUS shares. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Altice USA in a report on Wednesday, March 20th. UBS Group cut their price objective on Altice USA from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. BNP Paribas cut Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 target price on the stock. in a research note on Tuesday, April 9th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $3.00 target price on shares of Altice USA in a research note on Tuesday, March 26th. Four analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.90.

Altice USA Stock Performance

The firm has a market cap of $880.31 million, a P/E ratio of 16.17 and a beta of 1.35. The company has a 50 day moving average of $2.44 and a 200 day moving average of $2.55.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.33). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) EPS. As a group, analysts expect that Altice USA, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

A number of large investors have recently added to or reduced their stakes in ATUS. Bank of New York Mellon Corp boosted its position in Altice USA by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 771,039 shares of the company’s stock worth $9,623,000 after purchasing an additional 37,677 shares during the period. American Century Companies Inc. boosted its position in Altice USA by 22.7% during the first quarter. American Century Companies Inc. now owns 23,401 shares of the company’s stock worth $292,000 after purchasing an additional 4,336 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Altice USA by 35.6% during the first quarter. Cetera Advisor Networks LLC now owns 13,674 shares of the company’s stock worth $171,000 after buying an additional 3,588 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Altice USA during the first quarter worth approximately $351,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Altice USA during the first quarter worth approximately $134,000. Institutional investors 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.