Altice USA (NYSE:ATUS) Trading Up 4.9% - Should You Buy?

Altice USA, Inc. (NYSE:ATUS - Get Free Report) traded up 4.9% on Wednesday . The company traded as high as $2.37 and last traded at $2.37. 1,086,781 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 3,405,462 shares. The stock had previously closed at $2.26.

Analyst Ratings Changes

Several equities analysts recently issued reports on ATUS shares. The Goldman Sachs Group began coverage on Altice USA in a research report on Monday, July 1st. They set a "sell" rating and a $2.00 price target on the stock. Evercore ISI decreased 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 cut shares of Altice USA from a "buy" rating to a "neutral" rating and dropped their price target for the company from $4.00 to $2.00 in a research report on Friday, August 2nd. Six investment 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, the stock has an average rating of "Hold" and an average price target of $1.97.

Altice USA Price Performance

The firm has a market cap of $1.09 billion, a P/E ratio of 236.50, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53. The firm's 50 day moving average is $2.16 and its 200 day moving average is $2.10.

Altice USA (NYSE:ATUS - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.25 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 EPS. As a group, analysts expect that Altice USA, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Altice USA

Hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Altice USA in the 2nd quarter valued at $25,000. Quadrature Capital Ltd acquired a new position in Altice USA in the fourth quarter valued at approximately $47,000. Headlands Technologies LLC purchased a new stake in Altice USA in the 1st quarter worth approximately $46,000. SG Americas Securities LLC grew its stake in shares of Altice USA by 45.2% during the 1st quarter. SG Americas Securities LLC now owns 58,098 shares of the company's stock worth $152,000 after purchasing an additional 18,080 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Altice USA by 102.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 36,000 shares of the company's stock valued at $89,000 after purchasing an additional 18,200 shares in the last quarter. 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.