HSBC Downgrades Altice USA (NYSE:ATUS) to Hold

Altice USA (NYSE:ATUS) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Thursday, The Fly reports. They currently have a $28.00 target price on the stock. HSBC’s target price would suggest a potential upside of 4.36% from the company’s current price.

Several other research firms have also recently commented on ATUS. TD Securities lowered their target price on Altice USA from $33.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. ValuEngine raised Altice USA from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Barclays cut Altice USA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Wednesday, November 6th. KeyCorp upped their price objective on Altice USA from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Nomura upped their price objective on Altice USA from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $31.75.

ATUS opened at $26.83 on Thursday. Altice USA has a 12 month low of $15.15 and a 12 month high of $31.78. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 335.38 and a beta of 0.92. The company has a debt-to-equity ratio of 11.57, a current ratio of 0.44 and a quick ratio of 0.44. The business has a fifty day moving average price of $28.94 and a 200 day moving average price of $26.57.

Altice USA (NYSE:ATUS) last released its earnings results on Tuesday, November 5th. The company reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Altice USA had a return on equity of 17.04% and a net margin of 3.61%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the firm posted $0.04 EPS. Altice USA’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts anticipate that Altice USA will post 0.57 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. acquired a new stake in Altice USA in the first quarter valued at $2,255,000. Xact Kapitalforvaltning AB increased its position in shares of Altice USA by 12.2% during the second quarter. Xact Kapitalforvaltning AB now owns 67,036 shares of the company’s stock worth $1,632,000 after purchasing an additional 7,284 shares in the last quarter. OLD National Bancorp IN acquired a new stake in shares of Altice USA during the second quarter worth about $252,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of Altice USA during the second quarter worth about $609,000. Finally, Oakbrook Investments LLC acquired a new stake in shares of Altice USA during the second quarter worth about $215,000. 51.27% of the stock is owned by hedge funds and other institutional investors.

About Altice USA

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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