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What Makes Altice (ATUS) a Promising Pick for Investors Now?

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·3 min read
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Shares of Altice USA, Inc. ATUS have returned 38.8% in the past year compared with 49.8% growth of the industry. Currently, the stock carries a Zacks Rank #2 (Buy) and has a VGM Score of A.

Zacks Investment Research
Zacks Investment Research

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This Long Island City, NY-based company delivered a trailing four-quarter earnings surprise of 61.5%, on average. The Zacks Consensus Estimate for its current-year earnings has been revised 41.4% upward over the past 60 days.

Growth Drivers

Altice provides broadband, video, proprietary content and advertising services to more than 5 million residential and business customers across 21 states through its Optimum and Suddenlink brands.

The company is focused on accelerating its network expansion, along with market penetration, for long-term sustainable growth. It offers a range of broadband speeds for all budgets, from Altice Advantage Internet to multi-gigabit services for enterprise customers.

Altice operates a4, an advertising and data business, which provides multiscreen advertising solutions to businesses and advertising clients. It also offers local, national, international and business news through its News 12, Cheddar and i24NEWS networks.

Notably, last month, the company launched the Federal Communications Commission’s Emergency Broadband Benefit Program. This program is aimed at providing support for broadband services and certain devices to help low-income households stay connected.

The acquisition of Morris Broadband, LLC has expanded Altice’s footprint in North Carolina. Morris Broadband is a broadband communications services company that provides high-speed data, video and voice services to nearly 36,500 customers in western North Carolina.

Altice is likely to benefit from greater scale, operating efficiency and additional investments, which are at the core of its business strategy. The company is confident of its ability to deliver revenue and adjusted EBITDA growth in 2021. It is rational to believe that the stock has more upside left.

Other Key Choices

Some other top-ranked stocks that investors may consider are Ooma, Inc. OOMA, SeaChange International, Inc. SEAC and ATN International, Inc. ATNI, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Ooma delivered a trailing four-quarter earnings surprise of 65.5%, on average.

SeaChange International delivered a trailing four-quarter earnings surprise of 12.2%, on average.

ATN International delivered a trailing four-quarter earnings surprise of 424.2%, on average.

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