Altice USA Inc. [NYSE: ATUS] jumped around 0.27 points on Monday, while shares priced at $27.26 at the close of the session, up 1.00%. The company report on July 30, 2020 that Altice USA Reports Second Quarter 2020 Results.
Altice USA (NYSE: ATUS) today reports results for the second quarter ended June 30, 2020.
Dexter Goei, Altice USA Chief Executive Officer, said: “I am very proud of the Altice USA team for delivering such an exceptional quarter while navigating the challenges presented by the pandemic. Our core cable business performed extremely well, and we remain committed to serving our broader community with the connectivity and news they need during this unprecedented time. For the second consecutive quarter, we delivered best-ever customer net additions, driven by organic broadband growth, and increased revenue, net income and Adjusted EBITDA year-over-year. We saw resilience in our Business Services segment, where we grew revenue more than two percent, and began to see a recovery in our News and Advertising business as we exited the quarter. While the pandemic continues to pose some uncertainty in the back half of the year, we are encouraged by the strength and resilience of our business, and by the opportunity set presented. We are, therefore, reinstating guidance for full-year revenue and EBITDA growth. Lastly, we announced the sale of a minority stake in our Lightpath fiber enterprise business, valuing the business at 14.6x 2019 Adjusted EBITDA(1), and closed our acquisition of Service Electric of New Jersey on-schedule, demonstrating our ability to create value through M&A.”.
Altice USA Inc. stock is now -0.29% down from its year-to-date (YTD) trading value. ATUS Stock saw the intraday high of $27.495 and lowest of $26.68 per share. The company’s 52-week high price is 31.78, which means current price is +70.86% above from all time high which was touched on 02/12/20.
Compared to the average trading volume of 6.16M shares, ATUS reached a trading volume of 5827480 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Altice USA Inc. [ATUS]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATUS shares is $32.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATUS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
HSBC Securities have made an estimate for Altice USA Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 15, 2020. The new note on the price target was released on May 05, 2020, representing the official price target for Altice USA Inc. stock. On April 02, 2020, analysts decreased their price target for ATUS shares from 40 to 36.
The Average True Range (ATR) for Altice USA Inc. is set at 0.77, with the Price to Sales ratio for ATUS stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 10.29, with the Price to Cash per share for the same quarter was set at 0.44. Price to Free Cash Flow for ATUS in the course of the last twelve months was 12.53 with Quick ratio for the last quarter at 0.50.
How has ATUS stock performed recently?
Altice USA Inc. [ATUS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.22. With this latest performance, ATUS shares gained by 16.25% in over the last four-week period, additionally sinking by -1.62% over the last 6 months – not to mention a rise of 1.04% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATUS stock in for the last two-week period is set at 71.94, with the RSI for the last a single of trading hit 81.50, and the three-weeks RSI is set at 67.24 for Altice USA Inc. [ATUS]. The present Moving Average for the last 50 days of trading for this stock 24.50, while it was recorded at 25.75 for the last single week of trading, and 25.73 for the last 200 days.
Altice USA Inc. [ATUS]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Altice USA Inc. [ATUS] shares currently have an operating margin of +19.43 and a Gross Margin at +43.00. Altice USA Inc.’s Net Margin is presently recorded at +1.42.
Return on Total Capital for ATUS is now 7.06, given the latest momentum, and Return on Invested Capital for the company is 0.52. Return on Equity for this stock inclined to 4.50, with Return on Assets sitting at 0.40. When it comes to the capital structure of this company, Altice USA Inc. [ATUS] has a Total Debt to Total Equity ratio set at 1,039.65. Additionally, ATUS Total Debt to Total Capital is recorded at 91.23, with Total Debt to Total Assets ending up at 70.67. Long-Term Debt to Equity for the company is recorded at 1,080.13, with the Long-Term Debt to Total Capital now at 90.45.
Reflecting on the efficiency of the workforce at the company, Altice USA Inc. [ATUS] managed to generate an average of $12,985 per employee. Receivables Turnover for the company is 20.99 with a Total Asset Turnover recorded at a value of 0.28.Altice USA Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
Earnings analysis for Altice USA Inc. [ATUS]
With the latest financial reports released by the company, Altice USA Inc. posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -20.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATUS.
Insider trade positions for Altice USA Inc. [ATUS]
There are presently around $9,411 million, or 90.10% of ATUS stock, in the hands of institutional investors. The top three institutional holders of ATUS stocks are: VERITAS ASSET MANAGEMENT LLP with ownership of 29,458,575, which is approximately 47.071% of the company’s market cap and around 1.80% of the total institutional ownership; VANGUARD GROUP INC, holding 28,884,760 shares of the stock with an approximate value of $787.4 million in ATUS stocks shares; and SOROBAN CAPITAL PARTNERS LP, currently with $708.76 million in ATUS stock with ownership of nearly 0% of the company’s market capitalization.
161 institutional holders increased their position in Altice USA Inc. [NYSE:ATUS] by around 48,393,156 shares. Additionally, 190 investors decreased positions by around 73,868,614 shares, while 34 investors held positions by with 222,979,906 shares. The mentioned changes placed institutional holdings at 345,241,676 shares, according to the latest SEC report filing. ATUS stock had 52 new institutional investments in for a total of 11,228,011 shares, while 70 institutional investors sold positions of 24,865,873 shares during the same period.