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Access insights and guidance from our Wall Street pros. Find the product that's right for you. Analysts are showing more patience with Altice ATUS - Get Report than investors after shares of the cable giant plunged Wednesday following a lackluster third-quarter earnings report.

The stock price of the New Analysts have attributed the low penetration cable company, which just launched a wireless mobile unit as it grapples with cord-cutting, plunged Altice also cut its guidance for full-yearsaying it now expects revenue growth of 2. The cable giant's quarterly results fell short of analysts' expectations for earnings and revenue. Still, analysts Wednesday shrugged off the earnings fizzle by Altice to take a long view of the cable provider's prospects.

Of the 31 analysts who cover Altice, 23 have Analysts have attributed the low penetration ratings on the stock, seven have holds, and one has a sell, according to a survey by Bloomberg News. While acknowledging a "mixed" third quarter, Wells Fargo analyst Jennifer Fritzsche attributed the results to one-time promotion roll off and costs associated with the launch of Altice Mobile. Those factors "should reverse in FY, which makes us confident" in top-line growth next year," the Wells Fargo analyst wrote.

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