Altice USA (NYSE:ATUS) Trading 10% Higher - Still a 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.

Shares of Altice USA, Inc. (NYSE:ATUS - Get Free Report) 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 changed hands 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 Upgrades and Downgrades

Several equities 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 company 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 company a "sell" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $3.05.

Altice USA Trading Up 8.0%

The company has a market cap of $1.04 billion, a PE ratio of -3.82 and a beta of 1.55. The business has a fifty day moving average of $2.36 and a 200-day moving average of $2.50.

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

Institutional Investors Weigh In On Altice USA

A number of large investors have recently modified their holdings of ATUS. Geode Capital Management LLC boosted its stake in Altice USA by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company's stock worth $6,500,000 after acquiring an additional 12,959 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Altice USA during the first quarter worth about $81,000. Sona Asset Management US LLC grew its stake in Altice USA by 30.0% during the fourth quarter. Sona Asset Management US LLC now owns 3,900,000 shares of the company's stock valued at $9,399,000 after acquiring an additional 900,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Altice USA by 29.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 636,672 shares of the company's stock valued at $1,534,000 after acquiring an additional 145,046 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Altice USA during the fourth quarter valued at $30,000. 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.

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