Altice USA, Inc. (NYSE:ATUS – Get Free Report) shares were up 4.9% during trading on Wednesday . The stock traded as high as $2.56 and last traded at $2.55. Approximately 1,001,498 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,701,904 shares. The stock had previously closed at $2.43.
Analyst Upgrades and Downgrades
ATUS has been the topic of several recent analyst reports. Loop Capital reduced their target price on shares of Altice USA from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $2.00 to $1.00 in a research note on Friday, April 5th. BNP Paribas lowered Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a research note on Tuesday, April 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altice USA in a research report on Thursday, April 11th. Finally, Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Altice USA in a research report on Wednesday, March 20th. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altice USA currently has an average rating of “Hold” and an average target price of $2.41.
Altice USA Stock Performance
The stock’s 50 day simple moving average is $2.24 and its 200-day simple moving average is $2.39. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 257.00, a price-to-earnings-growth ratio of 0.69 and a beta of 1.38.
Altice USA (NYSE:ATUS – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the company earned $0.06 EPS. Altice USA’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts expect that Altice USA, Inc. will post 0.18 EPS for the current fiscal year.
Institutional Trading of Altice USA
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATUS. Swedbank AB acquired a new stake in Altice USA in the first quarter valued at approximately $66,000. Apollo Management Holdings L.P. grew its stake in Altice USA by 4.6% in the 1st 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 period. Alpine Global Management LLC acquired a new stake in Altice USA in the 1st quarter valued at $65,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Altice USA by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock worth $1,193,000 after acquiring an additional 53,158 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Altice USA during the first quarter worth $687,000. 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.