Barclays Issues Positive Forecast for Altice USA (NYSE:ATUS) Stock Price

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

Separately, Raymond James raised shares of Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price objective for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2.75.

Altice USA Stock Performance

Shares of NYSE:ATUS traded up $0.08 during trading on Friday, hitting $2.70. The company's stock had a trading volume of 4,858,088 shares, compared to its average volume of 3,229,043. The business has a 50 day moving average price of $2.48 and a two-hundred day moving average price of $2.58. The company has a market capitalization of $1.25 billion, a PE ratio of -11.72 and a beta of 1.65. 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 posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.16) 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 analyst estimates of $2.16 billion. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. As a group, equities analysts expect that Altice USA will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altice USA

A number of institutional investors and hedge funds have recently bought and sold shares of ATUS. Empyrean Capital Partners LP lifted its position in Altice USA by 785.0% in the fourth quarter. Empyrean Capital Partners LP now owns 17,700,000 shares of the company's stock valued at $42,657,000 after acquiring an additional 15,700,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Altice USA by 238.7% in the fourth quarter. JPMorgan Chase & Co. now owns 6,444,193 shares of the company's stock valued at $15,531,000 after acquiring an additional 4,541,359 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Altice USA by 33.9% in the first quarter. Deutsche Bank AG now owns 12,761,956 shares of the company's stock valued at $33,947,000 after buying an additional 3,231,838 shares during the last quarter. Bracebridge Capital LLC raised its holdings in shares of Altice USA by 35.5% in the fourth quarter. Bracebridge Capital LLC now owns 8,854,977 shares of the company's stock valued at $21,340,000 after buying an additional 2,322,337 shares during the last quarter. Finally, Apollo Management Holdings L.P. raised its holdings in shares of Altice USA by 21.9% in the fourth quarter. Apollo Management Holdings L.P. now owns 12,192,050 shares of the company's stock valued at $29,383,000 after buying an additional 2,192,050 shares during the last quarter. 54.85% of the stock is owned by hedge funds and other 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.