Altice Reported 2017 Results a Bit Ahead of Our Expectation; Maintaining FVE; Shares Undervalued
Altice reported 2017 results that were a bit better than our expectations as it succeeded in increasing both revenue and margins in the U.S. more than we estimated. We don’t expect to make any significant changes to our fair value estimate and our narrow moat rating remains intact. We continue to believe the shares are undervalued. The firm reported revenue grew 12.9% year over year, a bit better than our 12.4% projection. This growth was almost all from acquisitions as Altice counted a full yea...Altice Europe is a provider of cable, fiber, mobile, telecommunications, content and media in Western Europe (comprising France, Portugal, Belgium, Luxembourg1 and Switzerland), the United States of America (U.S.), Israel, the Dominican Republic and the French overseas territories (comprising Guadeloupe, Martinique, French Guiana, La Reunion and Mayotte). Through its various business operations, Co. provides fixed services, mobile telephony services (other than in the U.S.) and media and advertising services to B2C and B2B customers in all of the geographies in which it operates. In addition, Co. offers a variety of wholesale and other services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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