FY2028 Earnings Forecast for OPTU Issued By Zacks Research

Optimum Communications, Inc. (NYSE:OPTU) – Research analysts at Zacks Research issued their FY2028 EPS estimates for Optimum Communications in a note issued to investors on Thursday, March 5th. Zacks Research analyst Team anticipates that the company will earn ($0.63) per share for the year. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Optimum Communications’ current full-year earnings is ($0.24) per share.

Optimum Communications (NYSE:OPTU) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Optimum Communications’s quarterly revenue was down 2.3% compared to the same quarter last year.

OPTU has been the topic of several other reports. Citigroup downgraded Optimum Communications from a “buy” rating to a “neutral” rating in a report on Sunday, February 15th. Evercore set a $2.00 target price on shares of Optimum Communications in a research note on Friday, February 13th. Barclays reduced their price target on shares of Optimum Communications from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Optimum Communications in a report on Wednesday, January 21st. Finally, Benchmark downgraded shares of Optimum Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $2.19.

Optimum Communications Stock Down 2.0%

Shares of OPTU opened at $1.50 on Friday. The stock has a market cap of $705.69 million, a P/E ratio of -0.38 and a beta of 1.51. The business’s 50 day moving average price is $1.67 and its 200-day moving average price is $1.99. Optimum Communications has a 52 week low of $1.38 and a 52 week high of $2.98.

Insider Buying and Selling

In other Optimum Communications news, General Counsel Michael Olsen sold 250,000 shares of the business’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 owned 1,496,277 shares of the company’s stock, valued at approximately $2,394,043.20. The trade was a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 44.60% of the company’s stock.

Hedge Funds Weigh In On Optimum Communications

Several large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Optimum Communications by 50.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,300 shares of the company’s stock worth $39,000 after buying an additional 5,156 shares during the period. Teacher Retirement System of Texas grew its position in Optimum Communications by 17.9% in the second quarter. Teacher Retirement System of Texas now owns 35,815 shares of the company’s stock worth $77,000 after acquiring an additional 5,450 shares in the last quarter. Man Group plc increased its stake in Optimum Communications by 6.4% during the second quarter. Man Group plc now owns 101,736 shares of the company’s stock worth $218,000 after acquiring an additional 6,137 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Optimum Communications by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 644,142 shares of the company’s stock valued at $1,713,000 after purchasing an additional 7,470 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Optimum Communications by 41.6% in the 2nd quarter. Lazard Asset Management LLC now owns 28,667 shares of the company’s stock valued at $61,000 after purchasing an additional 8,420 shares during the last quarter. Hedge funds and other institutional investors own 54.85% of the company’s stock.

About Optimum Communications

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.