Optimum Communications (NYSE:OPTU) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Optimum Communications (NYSE:OPTU) from a hold rating to a strong sell rating in a research note released on Wednesday,Zacks.com reports. Zacks Research also issued estimates for Optimum Communications’ Q3 2026 earnings at ($0.19) EPS, FY2026 earnings at ($0.54) EPS, Q3 2027 earnings at ($0.16) EPS, Q4 2027 earnings at ($0.21) EPS, FY2027 earnings at ($0.49) EPS and FY2028 earnings at ($0.69) EPS.

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

Optimum Communications Stock Down 6.8%

OPTU stock opened at $1.24 on Wednesday. The firm has a market cap of $583.37 million, a P/E ratio of -0.31 and a beta of 1.51. The company’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $1.92. Optimum Communications has a 52-week low of $1.22 and a 52-week high of $2.98.

Optimum Communications (NYSE:OPTU) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS. On average, analysts anticipate that Optimum Communications will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Optimum Communications news, General Counsel Michael Olsen sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $1.60, for a total transaction of $400,000.00. Following the completion of the sale, the general counsel directly owned 1,496,277 shares in the company, valued at approximately $2,394,043.20. This trade represents a 14.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 44.60% of the company’s stock.

Institutional Investors Weigh In On Optimum Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss Life Asset Management Ltd acquired a new position in shares of Optimum Communications during the 3rd quarter worth $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Optimum Communications in the 3rd quarter valued at $27,000. Cibc World Markets Corp bought a new stake in Optimum Communications in the fourth quarter worth $29,000. Voleon Capital Management LP bought a new stake in Optimum Communications in the third quarter worth $31,000. Finally, Xponance LLC bought a new position in Optimum Communications during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

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.