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Momentum Stock Watch: Altice USA, Inc. (ATUS)

-- Saturday, July 4, 2020, 11:12 --

Company Profile:

Altice USA is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to more than 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands. The company operates a4, an advanced advertising and data business, which provides audience- based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar and i24NEWS networks. Altice USA, Inc. was incorporated in 2015 and is headquartered in Long Island City, New York.

Recent News:

On June 23, 2020, Altice Europe N.V. elected to sell 17.9 million Altice USA Class A shares to a broker dealer pursuant to Rule 144, representing substantially all of its remaining stake in the company. Consistent with Altice USA’s share repurchase program, the company elected to purchase approximately 3.6 million of these shares directly from the broker dealer, for a total consideration of approximately $85 million.

For the first quarter ended March 31, 2020, the company reported total Revenue grew +2.2% YoY to $2.45 billion. Residential revenue grew +0.5% YoY, Business Services grew +3.9% YoY and News and Advertising revenue grew +11.4% YoY.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

ATUS’s strengths can be seen in its strong growth and better profitability compared with its peers. Its revenue has increased over recent several years. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, MACD is trying to cross back up and the RSI stands at 44.24 with positive bias. We rate Altice USA, Inc. (ATUS) a STRONG BUY.

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