Altice USA (NYSE:ATUS) Stock Price Up 5%

Altice USA, Inc. (NYSE:ATUS)’s stock price was up 5% during trading on Wednesday . The stock traded as high as $2.36 and last traded at $2.33. Approximately 855,384 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,543,588 shares. The stock had previously closed at $2.22.

Analyst Upgrades and Downgrades

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

Altice USA Stock Up 7.2 %

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 235.00, a P/E/G ratio of 2.49 and a beta of 1.51. The stock has a 50 day moving average of $1.84 and a 200 day moving average of $2.14.

Altice USA (NYSE:ATUS) last released its 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 return on equity of 1.54% and a negative net margin of 0.62%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business earned $0.17 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts predict that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Institutional Trading of Altice USA

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Altice USA in the 2nd quarter valued at about $25,000. Quadrature Capital Ltd bought a new position in Altice USA in the fourth quarter worth about $47,000. Headlands Technologies LLC bought a new position in Altice USA in the first quarter worth about $46,000. Alpine Global Management LLC bought a new position in Altice USA in the first quarter worth about $65,000. Finally, Swedbank AB bought a new position in Altice USA in the first quarter worth about $66,000. 54.85% of the stock is owned by institutional investors and hedge funds.

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.