Optimum Communications, Inc. (OPTU) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is negative: Nine analysts give Optimum Communications a consensus “Reduce” rating, including four sells and five holds. The average 12-month price target is $0.92.
• The stock remains under pressure: OPTU recently traded at $0.95, down 1.7%, while its latest quarterly loss of $0.67 per share significantly missed the $0.17 consensus loss estimate.
• Insiders have been buying: Insiders purchased more than 3 million shares worth approximately $2.46 million over the past 90 days, and insiders collectively own 43.4% of the company.

Optimum Communications, Inc. (NYSE:OPTU - Get Free Report) has been given a consensus recommendation of "Reduce" by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $0.92.

OPTU has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Optimum Communications from $1.00 to $0.75 and set an "underweight" rating for the company in a report on Tuesday, August 11th. Zacks Research lowered Optimum Communications from a "hold" rating to a "strong sell" rating in a report on Monday, August 31st. Wall Street Zen lowered shares of Optimum Communications from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 26th. Finally, Weiss Ratings raised shares of Optimum Communications from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 29th.

Optimum Communications Trading Down 1.7%

NYSE OPTU traded down $0.02 during mid-day trading on Tuesday, reaching $0.95. 593,909 shares of the company's stock traded hands, compared to its average volume of 5,128,942. Optimum Communications has a 1-year low of $0.58 and a 1-year high of $2.61. The company has a fifty day simple moving average of $0.96 and a 200-day simple moving average of $1.09. The company has a market cap of $259.57 million, a price-to-earnings ratio of -0.09 and a beta of 1.17.

Optimum Communications (NYSE:OPTU - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.50). The firm had revenue of $2.02 billion during the quarter. Equities research analysts forecast that Optimum Communications will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Neil S. Subin bought 1,291,471 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $0.84 per share, for a total transaction of $1,084,835.64. Following the transaction, the insider directly owned 18,791,471 shares in the company, valued at $15,784,835.64. This represents a 7.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders bought 3,032,354 shares of company stock worth $2,455,613. Insiders own 43.40% of the company's stock.

Institutional Trading of Optimum Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cidel Asset Management Inc. acquired a new stake in Optimum Communications in the 1st quarter valued at approximately $32,000. Segall Bryant & Hamill LLC bought a new stake in shares of Optimum Communications in the 1st quarter worth approximately $54,000. Eos Management L.P. acquired a new stake in shares of Optimum Communications during the 4th quarter worth approximately $97,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Optimum Communications during the 2nd quarter worth approximately $86,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Optimum Communications by 541.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 69,744 shares of the company's stock valued at $91,000 after purchasing an additional 58,873 shares during the period. Institutional investors and hedge funds own 54.85% of the company's stock.

About Optimum Communications

Optimum Communications, Inc, doing business as Optimum, is a telecommunications company that provides connectivity and communications services to residential and business customers. Its offerings include high-speed broadband internet, television and streaming services, wireless mobile plans, digital voice services and related home connectivity products.

The company also serves commercial, enterprise and wholesale customers with services such as business internet, voice, networking, managed communications and data connectivity solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.