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Momentum Stock Watch: Altice USA Inc. (ATUS)

-- Sunday, August 22, 2021, 21:00 --

Company Profile:

Altice USA, Inc., together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately 5 million residential and business customers.The company provides communications and video services under Optimum and Suddenlink brand names. The company was incorporated in 2015 and is headquartered in Long Island City, New York. Altice USA, Inc. is a subsidiary of Next Alt. S.a.r.l.

Recent News:

The company reported total Revenue grew +1.7% YoY in Q2 2021 to $2.52 billion, driven by Broadband revenue growth of +7.8% YoY and News & Advertising revenue growth of +36.4% YoY. Net income attributable to stockholders was $197.7 million in Q2 2021, or $0.43/share on a diluted basis, compared to net income of $111.3 million in Q2 2020, or $0.19/share on a diluted basis.

The company witnessed solid demand for its broadband service with more than 50% of customer sticking to plans with download speeds of 200 Mbps or less. The company has accelerated the deployment of 1-gig services with 11.3% of the total customer base currently availing Gigabit speeds. This represents a significant growth opportunity for the company.

 

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, the MACD is trying to cross back up and the RSI stands at 38.58 with positive bias. We rate Altice USA Inc. (ATUS) a STRONG BUY.

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