Zacks Research Brokers Decrease Earnings Estimates for OPTU

Optimum Communications, Inc. (NYSE:OPTU) – Equities research analysts at Zacks Research dropped their FY2027 earnings per share (EPS) estimates for Optimum Communications in a research note issued on Monday, November 2nd. Zacks Research analyst Team now expects that the company will earn ($0.99) per share for the year, down from their previous 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.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded Optimum Communications from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 26th. Wells Fargo & Company decreased their price objective on Optimum Communications from $1.00 to $0.75 and set an “underweight” rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Optimum Communications from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 29th. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Optimum Communications presently has an average rating of “Reduce” and a consensus price target of $0.92.

Optimum Communications Stock Up 1.8%

Shares of Optimum Communications stock opened at $0.68 on Wednesday. The stock’s fifty day moving average is $0.93 and its two-hundred day moving average is $1.18. Optimum Communications has a 52 week low of $0.48 and a 52 week high of $2.19.

Optimum Communications (NYSE:OPTU) last issued its quarterly earnings results 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 company had revenue of $2.02 billion during the quarter.

Insider Activity

In other Optimum Communications news, major shareholder Neil S. Subin acquired 2,164,383 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were bought at an average cost of $0.52 per share, with a total value of $1,125,479.16. Following the completion of the acquisition, the insider directly owned 21,713,692 shares in the company, valued at $11,291,119.84. This represents a 11.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 4,277,316 shares of company stock worth $2,889,854 in the last 90 days. 43.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Optimum Communications

Large investors have recently bought and sold shares of the business. Pinnacle Associates Ltd. bought a new stake in Optimum Communications during the 3rd quarter valued at $53,000. Segall Bryant & Hamill LLC purchased a new position in shares of Optimum Communications in the 1st quarter valued at $54,000. Cidel Asset Management Inc. raised its position in shares of Optimum Communications by 139.7% in the 2nd quarter. Cidel Asset Management Inc. now owns 58,484 shares of the company’s stock worth $85,000 after acquiring an additional 34,084 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Optimum Communications in the 2nd quarter worth $86,000. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Optimum Communications by 541.6% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 69,744 shares of the company’s stock worth $91,000 after acquiring an additional 58,873 shares in the last quarter. Institutional investors own 54.85% of the company’s stock.

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.