Altice USA (NYSE:ATUS) Trading Up 5.8%

Altice USA, Inc. (NYSE:ATUSGet Rating)’s stock price shot up 5.8% on Tuesday . The stock traded as high as $4.40 and last traded at $4.40. 188,005 shares traded hands during trading, a decline of 97% from the average session volume of 6,460,259 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

Several research firms have recently weighed in on ATUS. Royal Bank of Canada cut their price objective on Altice USA from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. New Street Research upgraded Altice USA from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, August 3rd. Cowen cut their price objective on Altice USA from $39.00 to $31.00 in a report on Thursday, November 3rd. Pivotal Research cut Altice USA from a “buy” rating to a “hold” rating and cut their price objective for the company from $15.00 to $5.00 in a report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Altice USA from $12.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.95.

Altice USA Stock Performance

The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 3.33, a price-to-earnings-growth ratio of 0.24 and a beta of 1.47. The business has a fifty day moving average of $5.91 and a two-hundred day moving average of $8.60.

Altice USA (NYSE:ATUSGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.45 billion. Altice USA had a negative return on equity of 119.88% and a net margin of 6.52%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts predict that Altice USA, Inc. will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Stewart sold 31,560 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $9.99, for a total transaction of $315,284.40. Following the transaction, the director now directly owns 1,323,925 shares of the company’s stock, valued at approximately $13,226,010.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 52.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATUS. State of New Jersey Common Pension Fund D grew its holdings in Altice USA by 37.0% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 228,498 shares of the company’s stock valued at $2,852,000 after buying an additional 61,715 shares in the last quarter. National Bank of Canada FI grew its holdings in Altice USA by 1,941,924.2% in the 1st quarter. National Bank of Canada FI now owns 1,281,736 shares of the company’s stock valued at $15,987,000 after buying an additional 1,281,670 shares in the last quarter. KBC Group NV grew its holdings in Altice USA by 44.8% in the 1st quarter. KBC Group NV now owns 36,685 shares of the company’s stock valued at $458,000 after buying an additional 11,343 shares in the last quarter. Independent Advisor Alliance grew its holdings in Altice USA by 12.7% in the 1st quarter. Independent Advisor Alliance now owns 18,732 shares of the company’s stock valued at $234,000 after buying an additional 2,115 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Altice USA by 60.3% during the 1st quarter. Quadrant Capital Group LLC now owns 6,175 shares of the company’s stock worth $77,000 after purchasing an additional 2,324 shares in the last quarter. 56.28% of the stock is owned by institutional investors and hedge funds.

About Altice USA

(Get Rating)

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 approximately five million 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.

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