Altice USA (NYSE:ATUS) Shares Gap Up to $1.94

Shares of Altice USA, Inc. (NYSE:ATUS) gapped up prior to trading on Wednesday . The stock had previously closed at $1.94, but opened at $2.00. Altice USA shares last traded at $1.94, with a volume of 762,961 shares trading hands.

Wall Street Analysts Forecast Growth

ATUS has been the subject of several recent analyst reports. UBS Group cut their target price on Altice USA from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Evercore ISI reiterated an “in-line” rating and set a $3.00 price target on shares of Altice USA in a report on Tuesday, March 26th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of Altice USA in a report on Wednesday, March 20th. Finally, BNP Paribas downgraded shares of Altice USA from a “neutral” rating to an “underperform” rating and set a $1.00 price target for the company. in a report on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.90.

Altice USA Trading Up 3.1 %

The company has a 50-day moving average price of $2.43 and a two-hundred day moving average price of $2.54. The stock has a market capitalization of $898.56 million, a P/E ratio of 16.25 and a beta of 1.35.

Altice USA (NYSE:ATUS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.33). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. Altice USA had a negative return on equity of 12.81% and a net margin of 0.58%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted ($0.43) earnings per share. Research analysts forecast that Altice USA, Inc. will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

A number of hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its stake in Altice USA by 343.0% during the 4th quarter. Nomura Holdings Inc. now owns 306,009 shares of the company’s stock valued at $995,000 after purchasing an additional 236,933 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Altice USA during the 4th quarter valued at about $47,000. Readystate Asset Management LP boosted its stake in Altice USA by 236.7% during the 4th quarter. Readystate Asset Management LP now owns 446,626 shares of the company’s stock valued at $1,452,000 after purchasing an additional 313,970 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Altice USA by 2.8% during the 4th quarter. Legal & General Group Plc now owns 320,507 shares of the company’s stock worth $1,042,000 after buying an additional 8,627 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Altice USA by 442.4% during the 4th quarter. Barclays PLC now owns 436,188 shares of the company’s stock worth $1,417,000 after buying an additional 355,763 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.