Altice USA (NYSE:ATUS) Trading Up 4.6% - Should You Buy?

Shares of Altice USA, Inc. (NYSE:ATUS - Get Free Report) traded up 4.6% on Friday . The stock traded as high as $2.38 and last traded at $2.38. 417,957 shares changed hands during trading, a decline of 87% from the average session volume of 3,320,995 shares. The stock had previously closed at $2.27.

Analyst Ratings Changes

A number of analysts have weighed in on ATUS shares. Raymond James raised shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 target price on the stock in a report on Tuesday, February 18th. Barclays boosted their price objective on shares of Altice USA from $2.00 to $3.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group lifted their target price on Altice USA from $2.00 to $2.25 and gave the company a "sell" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Altice USA presently has a consensus rating of "Hold" and an average price target of $2.75.

Altice USA Trading Up 5.1%

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -10.37 and a beta of 1.65. The company has a fifty day moving average of $2.50 and a two-hundred day moving average of $2.58.

Altice USA (NYSE:ATUS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.07). 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 previous year, the business earned ($0.05) earnings per share. Altice USA's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Altice USA, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

A number of hedge funds and other institutional investors have recently bought and sold shares of ATUS. LPL Financial LLC bought a new stake in shares of Altice USA during the fourth quarter worth $25,000. DoubleLine ETF Adviser LP bought a new stake in Altice USA during the 1st quarter worth about $29,000. Raymond James Financial Inc. acquired a new stake in Altice USA in the 4th quarter valued at about $30,000. R Squared Ltd increased its position in Altice USA by 56.0% in the 1st quarter. R Squared Ltd now owns 15,490 shares of the company's stock valued at $41,000 after acquiring an additional 5,560 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Altice USA in the fourth quarter worth about $43,000. 54.85% of the stock is owned by institutional investors and hedge funds.

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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