Altice USA Inc. (NYSE: ATUS) stock jumped 0.63% on Tuesday to $4.80 against a previous-day closing price of $4.77. With 3.07 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.99 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $4.8700 whereas the lowest price it dropped to was $4.6700. The 52-week range on ATUS shows that it touched its highest point at $15.36 and its lowest point at $3.68 during that stretch. It currently has a 1-year price target of $8.94. Beta for the stock currently stands at 1.37.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ATUS was up-trending over the past week, with a rise of 2.13%, but this was up by 15.11% over a month. Three-month performance dropped to -14.29% while six-month performance fell -57.89%. The stock lost -66.08% in the past year, while it has gained 4.35% so far this year. A look at the trailing 12-month EPS for ATUS yields 1.39 with Next year EPS estimates of 0.77. For the next quarter, that number is 0.21. This implies an EPS growth rate of 186.70% for this year and -28.36% for next year.
Float and Shares Shorts:
At present, 455.95 million ATUS shares are outstanding with a float of 206.76 million shares on hand for trading. On Oct 13, 2022, short shares totaled 46.04 million, which was 10.13% higher than short shares on Sep 14, 2022. In addition to Mr. Dexter G. Goei as the firm’s Exec. Chairman, Mr. Michael J. Grau serves as its Exec. VP & CFO.
Through their ownership of 95.76% of ATUS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.36% of ATUS, in contrast to 59.67% held by mutual funds. Shares owned by individuals account for 34.98%. As the largest shareholder in ATUS with 12.81% of the stake, Clarkston Capital Partners LLC holds 34,640,405 shares worth 34,640,405. A second-largest stockholder of ATUS, The Vanguard Group, Inc., holds 22,465,711 shares, controlling over 8.31% of the firm’s shares. HG Vora Capital Management LLC is the third largest shareholder in ATUS, holding 15,000,000 shares or 5.55% stake. With a 3.70% stake in ATUS, the Clarkston Partners Fund is the largest stakeholder. A total of 10,000,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.43% of ATUS stock, is the second-largest Mutual Fund holder. It holds 6,570,329 shares valued at 30.22 million. Vanguard Small Cap Index Fund holds 2.06% of the stake in ATUS, owning 5,572,579 shares worth 25.63 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ATUS since 26 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 17 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ATUS analysts setting a high price target of $31.00 and a low target of $3.50, the average target price over the next 12 months is $7.60. Based on these targets, ATUS could surge 545.83% to reach the target high and fall by -27.08% to reach the target low. Reaching the average price target will result in a growth of 58.33% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ATUS will report FY 2022 earnings on 02/15/2024. Analysts have provided yearly estimates in a range of $1.51 being high and $0.86 being low. For ATUS, this leads to a yearly average estimate of $1.07. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Altice USA Inc. surprised analysts by -$0.16 when it reported $0.19 EPS against a consensus estimate of $0.35. The surprise factor in the prior quarter was -$0.09. Based on analyst estimates, the high estimate for the next quarter is $0.28 and the low estimate is $0.11. The average estimate for the next quarter is thus $0.21.
Summary of Insider Activity:
Insiders traded ATUS stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 1,724,138 shares were bought while 54,258 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 3,625,221 while 85,818 shares were sold.