Altice USA (NYSE:ATUS) Shares Up 4.6%

Altice USA, Inc. (NYSE:ATUS)’s share price shot up 4.6% during mid-day trading on Monday . The company traded as high as $2.16 and last traded at $2.15. 179,129 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 3,935,906 shares. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ATUS. Bank of America began coverage on shares of Altice USA in a report on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 target price for the company. BNP Paribas cut shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price objective for the company. in a research note on Tuesday, April 9th. Wells Fargo & Company cut shares of Altice USA from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $2.00 to $1.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Altice USA in a research note on Thursday, April 11th. Finally, Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of Altice USA in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Altice USA presently has a consensus rating of “Hold” and an average target price of $2.68.

Altice USA Stock Performance

The company has a market cap of $978.37 million, a price-to-earnings ratio of 18.00 and a beta of 1.35. The stock’s fifty day simple moving average is $2.41 and its two-hundred day simple moving average is $2.49.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.33). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. Altice USA had a net margin of 0.58% and a negative return on equity of 12.81%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. Analysts predict that Altice USA, Inc. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Altice USA

Several hedge funds and other institutional investors have recently made changes to their positions in ATUS. SG Americas Securities LLC lifted its holdings in shares of Altice USA by 81.9% during the 3rd quarter. SG Americas Securities LLC now owns 41,793 shares of the company’s stock valued at $137,000 after acquiring an additional 18,815 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Altice USA by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 725,627 shares of the company’s stock worth $2,373,000 after buying an additional 24,586 shares in the last quarter. Capula Management Ltd acquired a new position in Altice USA in the 3rd quarter worth $1,055,000. Assenagon Asset Management S.A. lifted its holdings in Altice USA by 159.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,159,990 shares of the company’s stock worth $7,063,000 after buying an additional 1,328,364 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC lifted its holdings in Altice USA by 8.8% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 60,000 shares of the company’s stock worth $196,000 after buying an additional 4,872 shares in the last quarter. Institutional investors and hedge funds 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.