Optimum Communications, Inc. (NYSE:OPTU) Receives $2.19 Average PT from Brokerages

Optimum Communications, Inc. (NYSE:OPTU) has been assigned a consensus recommendation of “Reduce” from the six brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $2.1875.

A number of research firms have recently commented on OPTU. Evercore set a $2.00 price objective on Optimum Communications in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optimum Communications in a research note on Wednesday, January 21st. Zacks Research raised Optimum Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Benchmark cut shares of Optimum Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Citigroup downgraded shares of Optimum Communications from a “buy” rating to a “neutral” rating in a report on Sunday, February 15th.

Optimum Communications Price Performance

NYSE OPTU opened at $1.48 on Monday. Optimum Communications has a 12 month low of $1.38 and a 12 month high of $2.98. The firm has a market capitalization of $693.93 million, a PE ratio of -0.37 and a beta of 1.51. The company’s 50 day simple moving average is $1.67 and its 200 day simple moving average is $1.98.

Optimum Communications (NYSE:OPTU) last released its earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Optimum Communications’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS. Sell-side analysts anticipate that Optimum Communications will post -0.24 earnings per share for the current fiscal year.

Insider Activity at Optimum Communications

In related news, General Counsel Michael Olsen sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $1.40, for a total value of $28,000.00. Following the sale, the general counsel directly owned 1,239,781 shares in the company, valued at $1,735,693.40. The trade was a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 44.60% of the stock is owned by insiders.

Institutional Trading of Optimum Communications

A number of large investors have recently added to or reduced their stakes in OPTU. Swiss Life Asset Management Ltd acquired a new stake in Optimum Communications during the 3rd quarter valued at $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Optimum Communications in the third quarter worth $27,000. Cibc World Markets Corp acquired a new stake in shares of Optimum Communications in the fourth quarter worth $29,000. Voleon Capital Management LP purchased a new position in shares of Optimum Communications during the third quarter valued at $31,000. Finally, Xponance LLC purchased a new position in shares of Optimum Communications during the fourth quarter valued at $34,000. 54.85% of the stock is currently owned by institutional investors.

Optimum Communications Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately five million residential and business customers. The company’s video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.