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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Altice Europe    ATC   NL0011333752

ALTICE EUROPE (ATC)
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Altice : shares fall to three-year low on price target cuts

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11/14/2017 | 01:45pm CEST
The logo of cable and mobile telecoms company Altice Group is seen during a news conference in Paris

PARIS (Reuters) - Shares in telecoms and cable group Altice (>> Altice) fell on Tuesday, extending a losing run to touch their lowest level in more than three years, after brokers lowered their expectations for the stock.

PARIS (Reuters) - Shares in telecoms and cable group Altice (>> Altice) fell on Tuesday, extending a losing run to touch their lowest level in more than three years, after brokers lowered their expectations for the stock.

Morgan Stanley slashed its price target by 34 percent to 20.50 euros and cut its cash flow estimates, while Kepler also reduced its target by 39 percent to 11 euros.

Altice shares, which have fallen for the last eight sessions in a row, were down 9.8 percent at 9.25 euros by mid-session trading, their lowest since early 2014. The stock is down by around 50 percent since the start of 2017.

Morgan Stanley said Altice's cash flow would be affected by the company's relatively high debt levels and recent share price slump.

On Nov. 10, Altice ousted Chief Executive Michel Combes and brought back founder Patrick Drahi as president, seeking to reassure investors.

Altice said earlier this month it had lost around 75,000 broadband customers in France in the third quarter, and its debt had reached 49.6 billion euros (£44.4 billion).

(Reporting by Sudip Kar-Gupta; Editing by Mark Potter and Laurence Frost)

Stocks treated in this article : Altice, Altice USA Inc
Stocks mentioned in the article
ChangeLast1st jan.
ALTICE EUROPE 0.84% 2.998 Delayed Quote.-65.72%
ALTICE USA INC -2.10% 17.27 Delayed Quote.-18.65%
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Financials (€)
Sales 2018 14 266 M
EBIT 2018 1 094 M
Net income 2018 -279 M
Debt 2018 32 099 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 2,58x
EV / Sales 2019 2,53x
Capitalization 4 672 M
Chart ALTICE EUROPE
Duration : Period :
Altice Europe Technical Analysis Chart | ATC | NL0011333752 | 4-Traders
Technical analysis trends ALTICE EUROPE
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 4,32 €
Spread / Average Target 44%
EPS Revisions
Managers
NameTitle
Dexter G. Goei Chief Executive Officer & Director
Patrick Drahi President & Executive Director
Jurgen van Breukelen Chairman
Dennis Okhuijsen Chief Financial Officer & Executive Director
Scott Matlock Independent Non-Executive Director
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