Optimum Communications, Inc. (NYSE:OPTU) Receives Consensus Rating of “Reduce” from Analysts

Optimum Communications, Inc. (NYSE:OPTU) has earned an average rating of “Reduce” from the ten brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $0.9167.

A number of research analysts have recently issued reports on OPTU shares. Barclays reduced their price objective on shares of Optimum Communications from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Weiss Ratings cut shares of Optimum Communications from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. BNP Paribas Exane upgraded Optimum Communications from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group set a $1.00 price target on Optimum Communications in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their price objective on Optimum Communications from $1.00 to $0.75 and set an “underweight” rating for the company in a research note on Tuesday, August 11th.

Hedge Funds Weigh In On Optimum Communications

Large investors have recently bought and sold shares of the stock. Voleon Capital Management LP purchased a new position in Optimum Communications during the 3rd quarter worth $31,000. Morningstar Investment Management LLC purchased a new stake in shares of Optimum Communications in the third quarter valued at about $39,000. Cibc World Markets Corp bought a new position in shares of Optimum Communications during the fourth quarter valued at about $29,000. Xponance LLC bought a new position in shares of Optimum Communications during the fourth quarter valued at about $34,000. Finally, Mariner LLC purchased a new position in Optimum Communications during the fourth quarter worth about $39,000. 54.85% of the stock is currently owned by institutional investors.

Optimum Communications Trading Down 2.2%

NYSE OPTU traded down $0.02 during mid-day trading on Monday, hitting $0.83. The company’s stock had a trading volume of 151,738 shares, compared to its average volume of 5,805,371. The company’s 50 day simple moving average is $1.03 and its 200 day simple moving average is $1.22. Optimum Communications has a twelve month low of $0.58 and a twelve month high of $2.79. The firm has a market capitalization of $225.96 million, a price-to-earnings ratio of -0.08 and a beta of 1.20.

Optimum Communications (NYSE:OPTU) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.50). The business had revenue of $2.02 billion for the quarter. As a group, research analysts forecast that Optimum Communications will post -0.82 EPS for the current year.

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.