Telecommunications

Cisco Stock Looks Washed Out, Analyst Says. Why There Could Be a Near-Term Bounce. — Barrons.com

/ / Telecommunications /

By Eric J. Savitz Cisco Systems stock picked up a tentative endorsement from Citi on Friday. Analyst Atif Malik resumed coverage of the networking hardware provider with a Neutral rating, while opening a “positive catalyst watch” designation to the stock. Malik notes that Cisco earnings estimates are likely to decline for the next quarter or two as customers work down excess inventory. The company will also be absorbing the impact of its $28 billion acquisition of the observability software company Splunk, which it completed ahead of schedule last month. On the company’s most recent earnings call in February, Cisco CEO Chuck Robbins said it is taking longer than expected for customers to clear their inventory, and that the process would still take another quarter or two. Cisco is projecting revenue for the July 2024 fiscal year will be down between 8% and 10% from the previous year. But Malik says […]

Cisco Stock Looks Washed Out, Analyst Says. Why There Could Be a Near-Term Bounce. — Barrons.com Read Post »

CFRA Keeps Hold Rating On Shares Of Roku, Inc.

/ / Telecommunications /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our target $5 to $67 on a forward P/S of 2.48x our $3.89B 2024 sales estimate, or $27.05/share using a narrower risk premium. ROKU’s operating outlook shows modest gains in EBITDA, with $4M in 2023, a $95M consensus estimate in 2024, and $239M in 2025; these are not material to apply to the TEV/EBITDA valuation. A long-term DCF model to value ROKU is difficult, in our view, given the uncertainties in driving significant revenue growth, EBITDA, and profits three to five years out or longer. Guidance for Q1 2024 is for total net revenue of $850M, total gross profit of $370M, and adjusted EBITDA at breakeven. The launch of its own branded TVs held promise to spur new ROKU subscribers. However, Walmart’s (WMT 59 ****)

CFRA Keeps Hold Rating On Shares Of Roku, Inc. Read Post »

Verizon First Quarter to Show Mixed Results, RBC Says

/ / Telecommunications /

Verizon Communications’ (VZ) first-quarter financial results are likely to be mixed, with churn management seen as a key priority for this year, RBC Capital Markets said in a note e-mailed Tuesday. The telecommunications giant is scheduled to report first-quarter results April 22. RBC projects adjusted earnings to fall about 7% year over year to $1.12 per share amid higher interest costs. That result would match Wall Street’s views. The brokerage expects revenue to grow 0.1% to $32.96 billion, below the Street’s $33.3 billion estimate, mainly driven by wireless equipment sales, RBC analysts Jonathan Atkin and Bora Lee said. The firm projects wireless service revenue growth at 3.1% on an annual basis, led by 3.8% average revenue per account growth. The Street is looking for 3.2% and 3.9%, respectively, RBC said. Verizon is also likely to see continued momentum in gross additions, with consumer postpaid phone adds poised to grow 7.4%

Verizon First Quarter to Show Mixed Results, RBC Says Read Post »

CFRA Maintains Hold Opinion On Shares Of At&t Inc.

/ / Telecommunications /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AT&T announced that the personal data belonging to 73 million current or former customers has been leaked online. The data involved appears to be from a breach in 2019 or earlier and is linked to 7.6 million customers and 65.4 million former account holders. The information includes addresses, social security numbers, and passcodes. The company announced in a statement that it is unclear whether the data originated from its own systems or via a third-party supplier. While a data breach is never a positive thing for the company, the silver lining here is that most of it comes from past account holders. AT&T has brought in a cybersecurity firm to investigate and has reset customers’ passwords. At this point it is unclear what the financial fallout from

CFRA Maintains Hold Opinion On Shares Of At&t Inc. Read Post »

Comcast Plans $265 Million Fiber Network Expansion in Texas

/ / Telecommunications /

Comcast (CMCSA) said Thursday that it plans to invest over $265 million to expand its Xfinity network in Texas this year with the installation of over 1,000 miles of new fiber-rich highways. This year’s expansion will start in Conroe, Montgomery, Hempstead, Porter, Navasota and Cleveland, while ongoing network infrastructure projects in Houston will continue, said the company. Comcast said the investment for the expansion is in addition to its $3 billion investment in Texas over the last three years.

Comcast Plans $265 Million Fiber Network Expansion in Texas Read Post »

Comcast’s Q1 to Reflect Broadband Subscriber Losses, UBS Says

/ / Telecommunications /

Comcast’s (CMCSA) Q1 results are likely to reflect slightly higher broadband subscriber losses and low single digit EBITDA growth in its Connectivity business segment, UBS said Thursday in a report. EBITDA may drop at the company’s Content division due to declines in studio and TV media segments, UBS said. As a result, Q1 revenue may be flat from a year earlier, compared with a prior forecast of 1.5% growth, UBS said. The firm also revised its full-year revenue forecast to reflect growth of 3.1%, compared with 3.5% previously. The firm maintained its neutral rating on the company’s stock with a price target of $47. Results for Q1 are scheduled to be released April 25. Comcast shares fell 0.6% in recent trading Thursday.

Comcast’s Q1 to Reflect Broadband Subscriber Losses, UBS Says Read Post »

Scroll to Top