Altice USA (NYSE:ATUS) Trading 4.9% Higher – Here’s Why

by · The Cerbat Gem

Shares of Altice USA, Inc. (NYSE:ATUS – Get Free Report) traded up 4.9% during trading on Wednesday . The company traded as high as $2.37 and last traded at $2.37. 1,086,781 shares changed hands during trading, a decline of 68% from the average session volume of 3,405,462 shares. The stock had previously closed at $2.26.

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on ATUS

Altice USA Price Performance

The business’s 50-day moving average price is $2.17 and its two-hundred day moving average price is $2.10. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 253.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.25 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. As a group, sell-side analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aristeia Capital L.L.C. acquired a new position in Altice USA during the second quarter worth approximately $657,000. King Street Capital Management L.P. purchased a new stake in Altice USA during the second quarter worth approximately $5,100,000. Susquehanna Fundamental Investments LLC purchased a new stake in Altice USA during the first quarter worth approximately $1,914,000. Empyrean Capital Partners LP purchased a new stake in Altice USA during the second quarter worth approximately $4,080,000. Finally, Quadrature Capital Ltd purchased a new stake in Altice USA during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

Altice USA Company Profile

(Get Free Report)

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.

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