Optimum Communications, Inc. (NYSE:OPTU) Receives $2.55 Average Price Target from Analysts

Optimum Communications, Inc. (NYSE:OPTU) has been given a consensus rating of “Reduce” by the six analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $2.55.

A number of brokerages have issued reports on OPTU. Evercore set a $2.50 price target on Optimum Communications in a report on Friday, November 7th. Zacks Research cut shares of Optimum Communications from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Citigroup lowered their price target on shares of Optimum Communications from $3.25 to $2.75 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Barclays cut their price objective on shares of Optimum Communications from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optimum Communications in a research report on Wednesday, January 21st.

Hedge Funds Weigh In On Optimum Communications

A number of hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Optimum Communications by 50.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,300 shares of the company’s stock valued at $39,000 after buying an additional 5,156 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Optimum Communications by 17.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 35,815 shares of the company’s stock valued at $77,000 after acquiring an additional 5,450 shares during the period. Man Group plc grew its stake in Optimum Communications by 6.4% in the 2nd quarter. Man Group plc now owns 101,736 shares of the company’s stock valued at $218,000 after acquiring an additional 6,137 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Optimum Communications by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 644,142 shares of the company’s stock worth $1,713,000 after acquiring an additional 7,470 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in Optimum Communications by 41.6% during the second quarter. Lazard Asset Management LLC now owns 28,667 shares of the company’s stock worth $61,000 after acquiring an additional 8,420 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Optimum Communications Price Performance

Shares of Optimum Communications stock opened at $1.63 on Thursday. The stock has a market cap of $766.76 million, a PE ratio of -0.41 and a beta of 1.51. The firm has a fifty day moving average price of $1.76 and a 200 day moving average price of $2.11. Optimum Communications has a 1 year low of $1.52 and a 1 year high of $3.20.

Optimum Communications (NYSE:OPTU) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($3.47) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($3.43). The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.13 billion. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. As a group, equities analysts expect that Optimum Communications will post -0.24 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.