Altice USA (NYSE:ATUS) Shares Up 8.5%

Altice USA, Inc. (NYSE:ATUS)’s stock price rose 8.5% during trading on Tuesday . The stock traded as high as $2.31 and last traded at $2.29. Approximately 1,030,077 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 3,551,054 shares. The stock had previously closed at $2.11.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ATUS. The Goldman Sachs Group started coverage on shares of Altice USA in a research note on Monday, July 1st. They issued a “sell” rating and a $2.00 price target for the company. UBS Group cut Altice USA from a “buy” rating to a “neutral” rating and lowered their target price for the company from $4.00 to $2.00 in a research note on Friday, August 2nd. Finally, Evercore ISI reduced their price target on Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.97.

Altice USA Price Performance

The stock has a market cap of $1.12 billion, a P/E ratio of 223.00, a P/E/G ratio of 2.49 and a beta of 1.51. The firm’s 50 day moving average price is $1.87 and its 200-day moving average price is $2.12.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts expect that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Altice USA during the 2nd quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in Altice USA in the 1st quarter worth approximately $46,000. Quadrature Capital Ltd bought a new stake in Altice USA in the 4th quarter worth approximately $47,000. Alpine Global Management LLC purchased a new stake in Altice USA during the 1st quarter valued at $65,000. Finally, Swedbank AB bought a new position in shares of Altice USA during the 1st quarter valued at $66,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.