Altice USA (NYSE:ATUS) Stock Price Up 3.7% – Here’s Why

Shares of Altice USA, Inc. (NYSE:ATUS) rose 3.7% during mid-day trading on Tuesday . The company traded as high as $2.52 and last traded at $2.50. Approximately 470,396 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,442,955 shares. The stock had previously closed at $2.41.

Wall Street Analysts Forecast Growth

ATUS has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Altice USA in a research report on Monday, July 1st. They issued a “sell” rating and a $2.00 price objective on the stock. Evercore ISI lowered their price target 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. Finally, UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and lowered their price target for the company from $4.00 to $2.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Altice USA currently has an average rating of “Hold” and a consensus target price of $1.97.

Altice USA Price Performance

The company has a market capitalization of $1.10 billion, a P/E ratio of 241.00, a PEG ratio of 3.27 and a beta of 1.53. The company has a 50 day moving average of $2.06 and a 200-day moving average of $2.10.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate 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 revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. Research analysts predict that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Several large investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC purchased a new position in Altice USA in the 2nd quarter worth approximately $25,000. Quadrature Capital Ltd bought a new stake in shares of Altice USA during the 4th quarter valued at $47,000. Headlands Technologies LLC bought a new stake in shares of Altice USA during the 1st quarter valued at $46,000. Alpine Global Management LLC bought a new position in Altice USA in the 1st quarter worth $65,000. Finally, Swedbank AB bought a new position in Altice USA in the 1st quarter worth $66,000. 54.85% of the stock is currently 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, 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.