Altice USA (NYSE:ATUS) Trading Up 7.2%

Altice USA, Inc. (NYSE:ATUS)’s share price was up 7.2% during mid-day trading on Thursday . The stock traded as high as $2.08 and last traded at $2.08. Approximately 345,398 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 3,554,420 shares. The stock had previously closed at $1.94.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ATUS shares. The Goldman Sachs Group assumed coverage on shares of Altice USA in a research note on Monday, July 1st. They set a “sell” rating and a $2.00 target price on the stock. Evercore ISI lowered 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 research note on Tuesday, July 2nd. Finally, UBS Group downgraded shares of Altice USA from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.00 to $2.00 in a 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Altice USA has a consensus rating of “Hold” and a consensus target price of $1.97.

Altice USA Stock Performance

The firm has a fifty day simple moving average of $1.83 and a two-hundred day simple moving average of $2.16. The firm has a market cap of $999.46 million, a PE ratio of 216.50, a PEG ratio of 2.49 and a beta of 1.51.

Altice USA (NYSE:ATUS) last posted 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 business had revenue of $2.24 billion during 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%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. Equities analysts forecast that Altice USA, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 period. King Street Capital Management L.P. bought a new position in Altice USA during the second quarter valued at $5,100,000. Apollo Management Holdings L.P. increased its position in Altice USA by 4.6% during the first quarter. Apollo Management Holdings L.P. now owns 2,281,533 shares of the company’s stock valued at $5,955,000 after acquiring an additional 100,000 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Altice USA in the second quarter valued at $4,080,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Altice USA by 1.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,500,079 shares of the company’s stock worth $4,875,000 after acquiring an additional 23,557 shares during the last quarter. 54.85% of the stock is 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.