Altice USA (NYSE:ATUS) Stock Price Expected to Rise, Barclays Analyst Says

Altice USA (NYSE:ATUS - Free Report) had its target price raised by Barclays from $2.00 to $3.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Raymond James raised Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price objective on the stock in a research note on Tuesday, February 18th. One 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2.75.

Altice USA Trading Up 2.2%

Shares of ATUS stock traded up $0.06 on Friday, hitting $2.79. 5,724,637 shares of the stock were exchanged, compared to its average volume of 3,322,961. The firm has a market capitalization of $1.29 billion, a P/E ratio of -12.13 and a beta of 1.65. The business has a 50-day moving average of $2.49 and a 200 day moving average of $2.59. Altice USA has a fifty-two week low of $1.52 and a fifty-two week high of $3.20.

Altice USA (NYSE:ATUS - Get Free Report) last released 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 ($0.09) by ($0.07). The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. The firm's revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. As a group, research analysts forecast that Altice USA will post -0.24 EPS for the current fiscal year.

Institutional Trading of Altice USA

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of Altice USA by 120.3% during the third quarter. Barclays PLC now owns 1,527,424 shares of the company's stock valued at $3,756,000 after purchasing an additional 834,030 shares during the period. JPMorgan Chase & Co. boosted its stake in Altice USA by 1,617.7% during the third quarter. JPMorgan Chase & Co. now owns 1,902,834 shares of the company's stock worth $4,681,000 after acquiring an additional 1,792,054 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Altice USA by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,462,972 shares of the company's stock worth $3,526,000 after acquiring an additional 60,656 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Altice USA during the fourth quarter valued at approximately $30,000. Finally, Swiss National Bank lifted its holdings in shares of Altice USA by 2.0% during the fourth quarter. Swiss National Bank now owns 407,700 shares of the company's stock valued at $983,000 after purchasing an additional 8,000 shares in the last quarter. 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.