Altice USA (NYSE:ATUS) Stock Price Up 6.5% – What’s Next?

Shares of Altice USA, Inc. (NYSE:ATUS) were up 6.5% on Monday . The company traded as high as $2.47 and last traded at $2.46. Approximately 1,836,188 shares changed hands during trading, a decline of 41% from the average daily volume of 3,122,151 shares. The stock had previously closed at $2.31.

Analyst Ratings Changes

Separately, Raymond James raised Altice USA from a “market perform” rating to an “outperform” rating and set a $3.50 price target on the stock in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.44.

Altice USA Stock Performance

The firm has a market capitalization of $1.13 billion, a P/E ratio of -10.65 and a beta of 1.65. The firm has a 50-day moving average of $2.64 and a 200-day moving average of $2.58.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). On average, research analysts forecast that Altice USA, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Altice USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC bought a new position in shares of Altice USA in the fourth quarter worth about $25,000. Raymond James Financial Inc. bought a new stake in shares of Altice USA in the 4th quarter valued at approximately $30,000. Wolverine Trading LLC bought a new position in Altice USA during the third quarter valued at $39,000. Dynamic Technology Lab Private Ltd purchased a new stake in Altice USA in the 4th quarter worth about $43,000. Finally, State of Wyoming bought a new position in Altice USA in the 4th quarter valued at $57,000. Hedge funds and other institutional investors 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.