Optimum Communications (NYSE:OPTU) Hits New 12-Month Low – Time to Sell?

Optimum Communications, Inc. (NYSE:OPTU)’s share price reached a new 52-week low on Thursday . The stock traded as low as $1.52 and last traded at $1.5350, with a volume of 463464 shares changing hands. The stock had previously closed at $1.59.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OPTU shares. Zacks Research upgraded shares of Optimum Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Citigroup downgraded shares of Optimum Communications from a “buy” rating to a “neutral” rating in a report on Sunday. Evercore set a $2.00 price objective on shares of Optimum Communications in a research note on Friday, February 13th. Barclays lowered their target price on Optimum Communications from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, Benchmark cut Optimum Communications from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.19.

Optimum Communications Stock Performance

The stock has a market cap of $721.19 million, a PE ratio of -0.38 and a beta of 1.51. The stock has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $2.05.

Optimum Communications (NYSE:OPTU) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.15 billion. Optimum Communications’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) earnings per share. On average, equities analysts predict that Optimum Communications, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Trading of Optimum Communications

Several hedge funds and other institutional investors have recently bought and sold shares of OPTU. Swiss Life Asset Management Ltd bought a new position in Optimum Communications in the 3rd quarter worth approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Optimum Communications during the 3rd quarter valued at about $27,000. May Hill Capital LLC bought a new stake in shares of Optimum Communications during the 2nd quarter worth about $29,000. Cibc World Markets Corp acquired a new stake in shares of Optimum Communications in the 4th quarter worth approximately $29,000. Finally, Voleon Capital Management LP bought a new position in shares of Optimum Communications in the third quarter valued at approximately $31,000. 54.85% of the stock is 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.