Altice USA (NYSE:ATUS) Sees Large Volume Increase

Altice USA, Inc. (NYSE:ATUS) shares saw unusually-high trading volume on Thursday . Approximately 3,476,147 shares traded hands during mid-day trading, a decline of 2% from the previous session’s volume of 3,552,323 shares.The stock last traded at $2.15 and had previously closed at $2.04.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Evercore ISI decreased their price target on shares of Altice USA from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. UBS Group lowered shares of Altice USA from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.00 to $2.00 in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Altice USA in a research report on Monday, July 1st. They issued a “sell” rating and a $2.00 price target for the company. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1.97.

Altice USA Stock Performance

The business has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $2.16. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 220.00, a PEG ratio of 2.37 and a beta of 1.48.

Altice USA (NYSE:ATUS) last issued its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.25 billion. Altice USA had a negative return on equity of 1.54% and a negative net margin of 0.62%. Altice USA’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Altice USA, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Altice USA in the second quarter worth approximately $25,000. Montag A & Associates Inc. bought a new stake in Altice USA during the fourth quarter worth $32,000. Headlands Technologies LLC purchased a new stake in Altice USA in the 1st quarter valued at $46,000. Quadrature Capital Ltd bought a new position in Altice USA during the 4th quarter valued at $47,000. Finally, Alpine Global Management LLC purchased a new position in Altice USA during the 1st quarter worth $65,000. Institutional investors and hedge funds own 54.85% of the company’s stock.

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.