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Altice USA, Inc.
ATUS Details
Altice USA, Inc. (NYSE: ATUS) provides broadband communications and television services in the US, notably under the Optimum and Suddenlink brands. It serves over five million residential and business clients with internet, television, telephony, and mobile services. As of September 30, 2021, ATUS's footprint spans 21 states via a fiber-rich hybrid-fiber coaxial (HFC) broadband network and a fiber-to-the-home (FTTH) network, with roughly 9.2 million total passings.
Latest News:
9MFY21 Results:
Key Risks:
Outlook:
Valuation Methodology: EV/EBITDA Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's NTM trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
ATUS Daily Technical Chart (Source: REFINITIV)
Stock Recommendation:
ATUS's stock price has fallen 53.31 in the past six months and is currently trading close to the lower end of its 52-week range of USD 16.07 to USD 38.30. The stock is currently trading below its 50 and 200 DMA levels, and its RSI Index is at 43.96. We have valued the stock using the EV/EBITDA-based relative valuation methodology and arrived at a target price of USD 20.52.
Considering the significant correction in the stock price, strong bottom-line performance, expansion endeavors, associated risks, and current valuation, we recommend a "Buy" rating on the stock at the current price of USD 17.21, down 6.37% as of November 18, 2021, 2:16 PM ET.
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.
*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the estimated target price is reached.