Altice USA (NYSE:ATUS) Trading Up 3.7% – Should You Buy?

Altice USA, Inc. (NYSE:ATUS)’s stock price 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 traded hands during trading, a decline of 86% from the average daily volume of 3,442,955 shares. The stock had previously closed at $2.41.

Analyst Upgrades and Downgrades

Several research firms have commented on ATUS. 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 report on Tuesday, July 2nd. UBS Group downgraded shares of 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. Finally, The Goldman Sachs Group initiated coverage on shares of Altice USA in a report on Monday, July 1st. They issued a “sell” rating and a $2.00 target price for the company. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $1.97.

Altice USA Price Performance

The business’s 50 day moving average price is $2.09 and its 200 day moving average price is $2.11. The stock has a market capitalization of $1.10 billion, a P/E ratio of 236.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53.

Altice USA (NYSE:ATUS) last announced its earnings results 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 company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. Altice USA’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. As a group, analysts forecast that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Altice USA

Large investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC bought a new stake in Altice USA during the second quarter valued at about $25,000. Quadrature Capital Ltd bought a new stake in Altice USA during the 4th quarter worth approximately $47,000. Headlands Technologies LLC bought a new stake in Altice USA during the 1st quarter worth approximately $46,000. Alpine Global Management LLC bought a new position in shares of Altice USA in the first quarter worth approximately $65,000. Finally, Swedbank AB purchased a new stake in shares of Altice USA in the first quarter worth $66,000. 54.85% of the stock is currently owned by 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.