Altice USA, Inc. (ATUS - Free Report) recently announced that it has inked a $25-million multi-year partnership with The Shed to provide the upcoming non-profit making organization with advanced fiber network connectivity and related infrastructure, helping people connect to enriching cultural experiences through technology.
To be inaugurated in spring 2019, The Shed reportedly will be the new arts center in Manhattan’s west side, which aims to promote original works of art across all disciplines for varied audiences. The center will strive to become a true cultural centerpiece, inspiring creative and intellectual curiosity.
Altice, The Shed’s exclusive connectivity provider and founding sponsor, will provide audiences, artists and staff with access to superior WiFi service. The company’s CEO Dexter Goei has also joined The Shed’s board of directors to help the organization fulfil its mission, and boost creative role in the civic life of New York City while minimizing barriers to enter into the market.
Existing Business Scenario
Altice is well on-track with its five-year plan to build a FTTH (fiber-to-the-home) network and deploy its home communications hub. The company believes that the FTTH network will be more resilient with reduced maintenance requirements, fewer service outages and lower power usage. This will allow Altice to satisfy demand for increasing speed and support evolving technologies, such as the transition of mobile networks to 5G and enable it to capitalize on allied revenue-growth opportunities.
Moreover, the company is building a next-generation fiber network to deliver broadband speed of 10 Gbps, underscoring its continued investment in technology and innovation for customers in the United States.
The stock has inched up 0.2%, against the industry’s decline of 6.2% in the past six months.
Zacks Rank & Other Stocks to Consider
Altice currently sports a Zacks Rank #1 (Strong Buy).
Other top-ranked stocks in the industry include Arista Networks, Inc. (ANET - Free Report) , ARRIS International plc (ARRS - Free Report) and Harmonic Inc. (HLIT - Free Report) . While Arista flaunts a Zacks Rank #1, ARRIS and Harmonic carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista has a long-term earnings growth expectation of 21.7%.
ARRIS has a long-term earnings growth expectation of 6.5%.
Harmonic has a long-term earnings growth expectation of 8.8%.
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