Altice USA (NYSE:ATUS) Trading 5% Higher

Shares of Altice USA, Inc. (NYSE:ATUS - Get Free Report) traded up 5% on Wednesday . The company traded as high as $2.36 and last traded at $2.33. 855,384 shares were traded during trading, a decline of 76% from the average session volume of 3,543,588 shares. The stock had previously closed at $2.22.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group downgraded Altice USA from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $4.00 to $2.00 in a research note on Friday, August 2nd. Evercore ISI reduced their target price on Altice USA from $3.00 to $2.00 and set an "in-line" rating for the company in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group assumed coverage on Altice USA in a report on Monday, July 1st. They set a "sell" rating and a $2.00 price objective for the company. Six analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $1.97.

Altice USA Trading Up 4.7 %

The firm has a market cap of $1.07 billion, a P/E ratio of 238.00, a PEG ratio of 2.49 and a beta of 1.51. The business's fifty day simple moving average is $1.84 and its 200-day simple moving average is $2.14.

Altice USA (NYSE:ATUS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Altice USA, Inc. will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altice USA

A number of large investors have recently modified their holdings of ATUS. Vanguard Personalized Indexing Management LLC purchased a new position in Altice USA during the second quarter worth about $25,000. Headlands Technologies LLC purchased a new position in shares of Altice USA during the first quarter worth about $46,000. Quadrature Capital Ltd purchased a new position in shares of Altice USA during the fourth quarter worth about $47,000. 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 Altice USA in the first quarter valued at approximately $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.