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Altice Europe acquired privately held U.S. cable company Suddenlink in 2015 and Cablevision in 2016. Suddenlink's networks provide television, internet access, and phone services to roughly 4 million U.S. homes and businesses located primarily in smaller markets, with major clusters in Texas, West Virginia, Idaho, Arizona, and Louisiana. Cablevision provides comparable services to about 5.5 million homes and business in the New York City metro area. Both regions now operate under the Optimum brand name. Altice Europe spun off Altice USA, which includes both the Suddenlink and Cablevision operations, to shareholders in 2018. Altice USA also owns News 12 Networks, which broadcasts local news in New York and i24News, a news operation focused on the Middle East.
Altice USA Class A trades on the NYSE stock market under the symbol ATUS.
As of May 14, 2024, ATUS stock price climbed to $2.18 with 3,662,453 million shares trading.
ATUS has a beta of 1.76, meaning it tends to be more sensitive to market movements. ATUS has a correlation of 0.05 to the broad based SPY ETF.
ATUS has a market cap of $1.00 billion. This is considered a Small Cap stock.
Last quarter Altice USA Class A reported $2 billion in Revenue and -$.05 earnings per share. This beat revenue expectation by $11 million and missed earnings estimates by -$.05.
In the last 3 years, ATUS stock traded as high as $38.00 and as low as $1.75.
The top ETF exchange traded funds that ATUS belongs to (by Net Assets): VTI, VB, VBR, VXF, SCHA.
ATUS has underperformed the market in the last year with a price return of -15.8% while the SPY ETF gained +28.8%. However, in the short term, ATUS had mixed performance relative to the market. It has outperformed in the last 3 months, returning +6.9% vs +6.2% return in SPY. But in the last 2 weeks, ATUS shares have been beat by the market, returning +2.3% compared to an SPY return of +2.6%.
ATUS support price is $2.00 and resistance is $2.20 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ATUS stock will trade within this expected range on the day.