Is Altice USA Inc (NYSE: ATUS)’s Stock Ready To Increase In Value?

In the last trading session, 1.19 million shares of the Altice USA Inc (NYSE:ATUS) were traded, and its beta was 1.35. Most recently the company’s share price was $2.59, and it changed around -$0.02 or -0.77% from the last close, which brings the market valuation of the company to $1.18B. ATUS currently trades at a discount to its 52-week high of $3.82, offering almost -47.49% off that amount. The share price’s 52-week low was $1.75, which indicates that the current value has risen by an impressive 32.43% since then. We note from Altice USA Inc’s average daily trading volume that its 10-day average is 1.99 million shares, with the 3-month average coming to 4.74 million.

Altice USA Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.56. If we narrow it down even further, the data shows that 0 out of 17 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 7 recommended ATUS as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Altice USA Inc is expected to report earnings per share of $0 for the current quarter.

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Altice USA Inc (NYSE:ATUS) trade information

Instantly ATUS has showed a red trend with a performance of -0.77% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -20.31% year-to-date, but still up 2.78% over the last five days. On the other hand, Altice USA Inc (NYSE:ATUS) is -12.79% down in the 30-day period. We can see from the shorts that 24.51 million shares have been sold at a short interest cover period of 3.67 day(s).

The consensus price target as assigned by Wall Street analysts is $19.28, which translates to bulls needing to increase their stock price by 86.57% from its current value. Analyst projections state that ATUS is forecast to be at a low of $4 and a high of $43.

Altice USA Inc (ATUS) estimates and forecasts

Altice USA Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -24.93 percent over the past six months and at a 83.33% annual growth rate that is well above the industry average of 17.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report a decrease of -64.70% in the next quarter. The year-over-year growth rate is expected to be -2.30%, down from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $2.24 billion in revenue for the current quarter. 11 analysts expect Altice USA Inc to make $2.25 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.29 billion and $2.32 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -2.30%. Forecasts for the next quarter put sales growth at -2.90%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 35.28%. Altice USA Inc earnings are expected to increase by 90.10% in 2024, but the outlook is negative -0.20% per year for the next five years.

ATUS Dividends

Altice USA Inc’s next quarterly earnings report is expected to be released around May 01 and May 06.

Altice USA Inc (NYSE:ATUS)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 20.48% of Altice USA Inc shares, and 89.37% of them are in the hands of institutional investors. The stock currently has a share float of 112.39%. Altice USA Inc stock is held by 244 institutions, with Clarkston Capital Partners LLC being the largest institutional investor. By Jun 29, 2023, it held 8.39% of the shares, which is about 38.14 million shares worth $115.18 million.

Vanguard Group Inc, with 4.84% or 22.0 million shares worth $66.43 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Alps Ser Tr-Clarkston Partners Fd and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 10.0 million shares worth $30.2 million, making up 2.20% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 6.72 million shares worth around $20.29 million, which represents about 1.48% of the total shares outstanding.