Altice USA (NYSE:ATUS) Shares Up 5%

Altice USA, Inc. (NYSE:ATUS)’s share price rose 5% during mid-day trading on Wednesday . The company traded as high as $2.36 and last traded at $2.33. Approximately 855,384 shares changed hands during 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 brokerages have weighed in on ATUS. UBS Group downgraded Altice USA from a “buy” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.00 in a report on Friday, August 2nd. Evercore ISI reduced their target price on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group assumed 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. Six analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.97.

Altice USA Stock Up 7.2 %

The company has a market cap 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 business has a fifty day simple moving average of $1.84 and a 200 day simple 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 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 during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Trading of Altice USA

A number of institutional investors and hedge funds have recently bought and sold shares of ATUS. Vanguard Personalized Indexing Management LLC purchased a new position in Altice USA in the second quarter valued at about $25,000. Quadrature Capital Ltd purchased a new position in Altice USA in the fourth quarter valued at about $47,000. Headlands Technologies LLC purchased a new position in Altice USA in the first quarter valued at about $46,000. Alpine Global Management LLC purchased a new position in Altice USA in the first quarter valued at about $65,000. Finally, Swedbank AB purchased a new position in Altice USA in the first quarter valued at about $66,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.