Altice USA (NYSE:ATUS) Stock Price Up 4.7% - Still a Buy?

Key Points

• Altice USA's stock price increased by 4.7% recently, reaching a last trading price of $2.70 with a market capitalization of $1.27 billion.
• Analysts have mixed ratings for the stock, with three analysts recommending a Buy and two others issuing a Sell, while Goldman Sachs set a price target of $2.00.
• The company's latest quarterly earnings missed expectations, reporting an EPS of (0.21) against a consensus estimate of (0.06), reflecting a 4.2% year-over-year revenue decrease.

Altice USA, Inc. (NYSE:ATUS - Get Free Report)'s stock price traded up 4.7% on Wednesday . The stock traded as high as $2.74 and last traded at $2.70. 6,030,928 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 4,325,310 shares. The stock had previously closed at $2.58.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group initiated coverage on Altice USA in a report on Tuesday, September 2nd. They set a "sell" rating and a $2.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Altice USA in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altice USA presently has an average rating of "Hold" and a consensus target price of $3.00.

Altice USA Stock Up 4.7%

The stock has a market capitalization of $1.27 billion, a P/E ratio of -4.66 and a beta of 1.59. The stock's 50 day moving average price is $2.40 and its 200-day moving average price is $2.41.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.15). The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the company posted $0.03 EPS. The company's revenue was down 4.2% on a year-over-year basis. Analysts anticipate that Altice USA, Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of Altice USA

Hedge funds have recently made changes to their positions in the company. HG Vora Capital Management LLC acquired a new position in shares of Altice USA in the first quarter valued at approximately $12,502,000. Geode Capital Management LLC boosted its stake in shares of Altice USA by 114.7% in the second quarter. Geode Capital Management LLC now owns 6,052,090 shares of the company's stock valued at $12,953,000 after buying an additional 3,233,449 shares in the last quarter. Deutsche Bank AG grew its holdings in Altice USA by 33.9% during the first quarter. Deutsche Bank AG now owns 12,761,956 shares of the company's stock worth $33,947,000 after acquiring an additional 3,231,838 shares during the period. Empyrean Capital Partners LP grew its holdings in Altice USA by 13.6% during the first quarter. Empyrean Capital Partners LP now owns 20,100,000 shares of the company's stock worth $53,466,000 after acquiring an additional 2,400,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Altice USA by 46.6% in the first quarter. Goldman Sachs Group Inc. now owns 6,397,047 shares of the company's stock worth $17,016,000 after acquiring an additional 2,031,971 shares in the last quarter. 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.

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