Zacks Research Brokers Decrease Earnings Estimates for OPTU

Optimum Communications, Inc. (NYSE:OPTU) – Equities researchers at Zacks Research cut their FY2027 earnings estimates for shares of Optimum Communications in a research note issued to investors on Monday, November 2nd. Zacks Research analyst Team now anticipates that the company will post earnings per share of ($0.99) for the year, down from their prior estimate of ($0.97). Zacks Research currently has a “Strong Sell” rating on the stock. The consensus estimate for Optimum Communications’ current full-year earnings is ($0.83) per share. Zacks Research also issued estimates for Optimum Communications’ Q4 2027 earnings at ($0.28) EPS and FY2028 earnings at ($0.85) EPS.

Several other equities research analysts also recently weighed in on OPTU. Weiss Ratings upgraded shares of Optimum Communications from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 29th. Wall Street Zen lowered shares of Optimum Communications from a “sell” rating to a “strong sell” rating in a report on Sunday, July 26th. Finally, Wells Fargo & Company reduced their price target on Optimum Communications from $1.00 to $0.75 and set an “underweight” rating on the stock in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Optimum Communications presently has a consensus rating of “Reduce” and an average price target of $0.92.

Optimum Communications Trading Up 1.8%

NYSE OPTU opened at $0.68 on Wednesday. Optimum Communications has a 52 week low of $0.48 and a 52 week high of $2.19. The company has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.18.

Optimum Communications (NYSE:OPTU) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.50). The firm had revenue of $2.02 billion for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cidel Asset Management Inc. raised its stake in Optimum Communications by 62.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 94,974 shares of the company’s stock worth $94,000 after acquiring an additional 36,490 shares during the last quarter. Yousif Capital Management LLC lifted its position in Optimum Communications by 85.3% during the 3rd quarter. Yousif Capital Management LLC now owns 101,814 shares of the company’s stock worth $101,000 after acquiring an additional 46,868 shares during the period. Pinnacle Associates Ltd. acquired a new stake in Optimum Communications during the 3rd quarter worth about $53,000. Engineers Gate Manager LP grew its stake in Optimum Communications by 2,392.3% during the 2nd quarter. Engineers Gate Manager LP now owns 266,771 shares of the company’s stock valued at $387,000 after purchasing an additional 256,067 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Optimum Communications during the 2nd quarter valued at about $86,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Neil S. Subin bought 63,624 shares of the company’s stock in a transaction on Friday, October 23rd. The shares were bought at an average price of $0.61 per share, with a total value of $38,810.64. Following the transaction, the insider owned 21,777,316 shares in the company, valued at approximately $13,284,162.76. This trade represents a 0.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 4,277,316 shares of company stock valued at $2,889,854. 43.40% of the stock is owned by company insiders.

Optimum Communications Company Profile

Optimum Communications, Inc provides broadband communications and entertainment services to residential and business customers under the Optimum brand. Its offerings include high-speed internet, traditional and streaming television services, home phone, mobile connectivity, and related digital products.

The company also serves business and enterprise customers with internet access, voice services, managed communications, data networking, and other connectivity solutions. In addition, Optimum provides local and regional advertising services that allow businesses to reach targeted audiences through its television and digital platforms.

Optimum Communications was formerly known as Altice USA, Inc and adopted the Optimum Communications name as part of its broader focus on the Optimum brand.