Altice USA (NYSE:ATUS) Stock Price Up 10% - Should You Buy?

Key Points

• Altice USA's stock rose by 10% during trading, reaching a last traded price of $2.26 after previously closing at $2.05.
• Analysts have mixed ratings, with Barclays raising their price target to $3.00 while Goldman Sachs set it at $2.25, leading to an average rating of "Hold" and an average price target of $3.05.
• In Q2, the company reported a loss of ($0.21) earnings per share, falling short of the expected ($0.06) consensus, alongside a 4.2% decline in year-over-year revenue.

Altice USA, Inc. (NYSE:ATUS - Get Free Report) shares traded up 10% during trading on Tuesday . The stock traded as high as $2.36 and last traded at $2.26. 1,211,364 shares were traded during trading, a decline of 69% from the average session volume of 3,865,308 shares. The stock had previously closed at $2.05.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays increased their target price on shares of Altice USA from $2.00 to $3.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. The Goldman Sachs Group increased their target price on shares of Altice USA from $2.00 to $2.25 and gave the stock a "sell" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $3.05.

Altice USA Price Performance

The company's 50-day simple moving average is $2.36 and its 200-day simple moving average is $2.49. The stock has a market capitalization of $1.11 billion, a P/E ratio of -4.10 and a beta of 1.55.

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

Hedge Funds Weigh In On Altice USA

Several large investors have recently modified their holdings of the stock. LPL Financial LLC bought a new position in Altice USA during the fourth quarter worth about $25,000. DoubleLine ETF Adviser LP bought a new stake in shares of Altice USA during the 1st quarter valued at approximately $29,000. May Hill Capital LLC acquired a new stake in Altice USA during the 2nd quarter worth approximately $29,000. Raymond James Financial Inc. acquired a new stake in Altice USA during the 4th quarter worth approximately $30,000. Finally, R Squared Ltd boosted its position in Altice USA by 56.0% during the 1st quarter. R Squared Ltd now owns 15,490 shares of the company's stock worth $41,000 after buying an additional 5,560 shares during the period. 54.85% of the stock is 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.