Altice USA (NYSE:ATUS) Stock Price Up 4.9% – Time to Buy?

Altice USA, Inc. (NYSE:ATUS)’s share price was up 4.9% on Wednesday . The stock traded as high as $2.37 and last traded at $2.37. Approximately 1,086,781 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 3,405,462 shares. The stock had previously closed at $2.26.

Analyst Ratings Changes

Several equities research analysts recently commented on ATUS shares. Evercore ISI reduced their price target 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. The Goldman Sachs Group started coverage on Altice USA in a research report on Monday, July 1st. They issued a “sell” rating and a $2.00 target price for the company. Finally, UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and dropped 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 issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $1.97.

Altice USA Trading Up 4.0 %

The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 226.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53. The company has a fifty day moving average price of $2.14 and a 200-day moving average price of $2.10.

Altice USA (NYSE:ATUS) last posted its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $0.17 earnings per share. Altice USA’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Trading of Altice USA

Several large investors have recently made changes to their positions in ATUS. Massachusetts Financial Services Co. MA lifted its holdings in Altice USA by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,669,487 shares of the company’s stock worth $11,566,000 after purchasing an additional 24,501 shares during the last quarter. King Street Capital Management L.P. acquired a new stake in shares of Altice USA in the second quarter worth $5,100,000. Apollo Management Holdings L.P. boosted its holdings in shares of Altice USA by 4.6% during the 1st quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock worth $5,955,000 after buying an additional 100,000 shares during the period. Empyrean Capital Partners LP acquired a new position in Altice USA in the 2nd quarter valued at $4,080,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Altice USA in the 1st quarter worth $1,914,000. Institutional investors 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.