Altice USA (NYSE:ATUS) Trading Up 5.1% - Still a Buy?

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares shot up 5.1% during trading on Monday . The stock traded as high as $2.60 and last traded at $2.60. 1,844,788 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 3,192,310 shares. The stock had previously closed at $2.47.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 target price for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $2.67.

Altice USA Trading Up 1.1 %

The company has a fifty day moving average price of $2.48 and a two-hundred day moving average price of $2.58. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -11.65 and a beta of 1.65.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.08). During the same quarter in the prior year, the company earned ($0.05) earnings per share. Altice USA's revenue was down 4.4% on a year-over-year basis. Sell-side analysts anticipate that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new position in shares of Altice USA in the 4th quarter valued at $25,000. Raymond James Financial Inc. bought a new stake in shares of Altice USA in the fourth quarter worth about $30,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Altice USA during the fourth quarter worth about $43,000. State of Wyoming bought a new position in shares of Altice USA during the 4th quarter valued at about $57,000. Finally, Nuveen Asset Management LLC acquired a new position in shares of Altice USA in the 4th quarter valued at approximately $60,000. Institutional investors own 54.85% of the company's stock.

Altice USA Company Profile

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.