The stock of Altice USA, Inc. (NYSE:ATUS) is now priced at $27.67 and the shares are 0.09 points up or 0.33% higher compared to its previous closing price of $27.58. The stock had 4.202 million contracts set over the past session. ATUS shares’ daily volume is compared to its average trading volume at 5.66 million shares. However, it has a float of 280 million and although its performance was 4.42% over the week, it’s one to watch. Analysts have given the ATUS stock a yearly average price target of $34.74 per share. It means the stock’s upside potential is 25.55% with the ATUS share price recently placing at $27.475 to $27.77.
The shorts are running away from the Altice USA, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ATUS shares have declined. Short interest in the stock represents just 13.12% of its float, but the volume has dropped by 0.
In the last trading session, Altice USA, Inc. (NYSE:ATUS) raised by $1.17 over the week and lost -$0.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $31.78. The stock recorded its established 52-week high on 11/04/19.
Since 03/17/20, the stock has traded to a low of $15.95 at 73.43%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Altice USA, Inc.’s two-week RSI is 64.6. This suggests that the stock is neutral at the moment and that ATUS shares’ price movement remains stable. The stochastic readings are equally revealing at 73.01% meaning the ATUS share price is currently in oversold territory.
The technical chart shows that the ATUS stock will likely settle at between $27.8 and $27.93 per share. However, if the stock dips below $27.51, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $27.34.
Currently, the stock is trading in the green of MACD, with a reading of 0.5. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at TD Securities raised their recommendation for ATUS from Hold to Buy in August 04 review. HSBC Securities analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $28 in a flash note released to investors on July 15. Bernstein seeing the stock struggling downgraded it from Outperform to Mkt Perform on May 05 placing it at $27.
The average rating for the ATUS equity is 2.07 and is currently gathering a bullish momentum. Of 28 analysts tracking Altice USA, Inc. polled by Reuters, 5 rated ATUS as a hold. The remaining 23 analysts were split evenly. However, the split wasn’t equal as a majority (23) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ATUS stock price is 21.91X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 92.2 above the group’s average of 23.9. Altice USA, Inc. has its P/E ratio at 13.9, which means that the stock is currently trading at a premium relative to the 1.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Altice USA, Inc. (NYSE:ATUS) will increase by about 0.2%, which will see them reach $2480 million. The company’s full-year revenues are, however, expected to increase by about 1.74%, up from $9760 million to $9930 million. ATUS’s expected adjusted earnings should surge almost 83.33% to end up at $0.22 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 219.05% to record $0.67/share.