FY2028 Earnings Estimate for OPTU Issued By Zacks Research

Optimum Communications, Inc. (NYSE:OPTU) – Stock analysts at Zacks Research upped their FY2028 earnings estimates for shares of Optimum Communications in a research report issued to clients and investors on Thursday, March 19th. Zacks Research analyst Team now anticipates that the company will earn ($0.68) per share for the year, up from their previous estimate of ($0.69). Zacks Research currently has a “Strong Sell” rating on the stock. The consensus estimate for Optimum Communications’ current full-year earnings is ($0.24) per share.

Optimum Communications (NYSE:OPTU) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.14). During the same period in the prior year, the business posted ($0.12) EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year.

Several other analysts have also recently weighed in on the stock. Evercore set a $2.00 price objective on Optimum Communications in a research note on Friday, February 13th. Citigroup cut shares of Optimum Communications from a “buy” rating to a “neutral” rating in a research report on Sunday, February 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Optimum Communications in a report on Wednesday, January 21st. Raymond James Financial downgraded shares of Optimum Communications from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 11th. Finally, Benchmark downgraded Optimum Communications from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Optimum Communications currently has a consensus rating of “Reduce” and a consensus price target of $2.19.

Optimum Communications Stock Down 4.2%

NYSE:OPTU opened at $1.26 on Monday. The firm has a market capitalization of $590.43 million, a PE ratio of -0.31 and a beta of 1.51. Optimum Communications has a 12-month low of $1.20 and a 12-month high of $2.98. The firm has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.90.

Insider Activity at Optimum Communications

In related news, General Counsel Michael Olsen sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $1.60, for a total transaction of $400,000.00. Following the transaction, the general counsel directly owned 1,496,277 shares of the company’s stock, valued at approximately $2,394,043.20. This trade represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 44.60% of the company’s stock.

Institutional Trading of Optimum Communications

Institutional investors have recently modified their holdings of the stock. Swiss Life Asset Management Ltd acquired a new position in shares of Optimum Communications in the 3rd quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Optimum Communications during the 3rd quarter worth approximately $27,000. Cibc World Markets Corp bought a new position in Optimum Communications in the fourth quarter valued at approximately $29,000. Voleon Capital Management LP bought a new position in Optimum Communications in the third quarter valued at approximately $31,000. Finally, Xponance LLC acquired a new position in Optimum Communications during the fourth quarter valued at approximately $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.