Altice USA (NYSE:ATUS) Stock Price Up 4.8%

Shares of Altice USA, Inc. (NYSE:ATUS) rose 4.8% on Friday . The stock traded as high as $1.99 and last traded at $1.98. Approximately 245,622 shares were traded during trading, a decline of 93% from the average daily volume of 3,407,793 shares. The stock had previously closed at $1.89.

Wall Street Analysts Forecast Growth

ATUS has been the subject of several recent research reports. Bank of America initiated coverage on Altice USA in a research report on Wednesday, April 24th. They set an “underperform” rating and a $1.50 price target for the company. Loop Capital cut their price objective on Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Wells Fargo & Company cut Altice USA from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $2.00 to $1.00 in a research report on Friday, April 5th. Benchmark restated a “buy” rating and issued a $5.00 price objective on shares of Altice USA in a research report on Wednesday, March 20th. Finally, Evercore ISI cut their price objective on 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. Six analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Altice USA presently has a consensus rating of “Hold” and a consensus price target of $2.27.

Altice USA Price Performance

The company has a market cap of $938.32 million, a price-to-earnings ratio of 204.00, a price-to-earnings-growth ratio of 0.66 and a beta of 1.49. The stock has a 50 day simple moving average of $2.20 and a two-hundred day simple moving average of $2.36.

Altice USA (NYSE:ATUS) last posted 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). The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Altice USA had a net margin of 0.07% and a negative return on equity of 1.54%. Altice USA’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, research analysts forecast that Altice USA, Inc. will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Altice USA

Several institutional investors and hedge funds have recently modified their holdings of the company. Swedbank AB purchased a new stake in Altice USA during the 1st quarter worth about $66,000. Apollo Management Holdings L.P. boosted its position in shares of 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 purchasing an additional 100,000 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Altice USA in the 1st quarter valued at about $65,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Altice USA by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 460,585 shares of the company’s stock valued at $1,193,000 after purchasing an additional 53,158 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Altice USA during the 1st quarter worth approximately $687,000. Hedge funds and other 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.