Optimum Communications (NYSE:OPTU) Downgraded to “Strong Sell” Rating by Zacks Research

Optimum Communications (NYSE:OPTU) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors 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 equities research analysts have also issued reports on the stock. Benchmark lowered shares of Optimum Communications from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Citigroup cut shares of Optimum Communications from a “buy” rating to a “neutral” rating in a research note on Sunday, February 15th. Raymond James Financial cut shares of Optimum Communications from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Optimum Communications in a research note on Wednesday, January 21st. Finally, Evercore set a $2.00 target price on Optimum Communications in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.19.

Optimum Communications Trading Down 3.3%

Shares of OPTU stock opened at $1.34 on Wednesday. Optimum Communications has a 12 month low of $1.29 and a 12 month high of $2.98. The company has a market capitalization of $628.06 million, a P/E ratio of -0.33 and a beta of 1.51. The stock has a 50 day moving average of $1.60 and a two-hundred day moving average of $1.93.

Optimum Communications (NYSE:OPTU) last issued its earnings results on Thursday, February 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. Sell-side analysts predict that Optimum Communications will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Optimum Communications news, General Counsel Michael Olsen sold 20,000 shares of Optimum Communications stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $1.40, for a total value of $28,000.00. Following the completion of the transaction, the general counsel owned 1,239,781 shares in the company, valued at approximately $1,735,693.40. The trade was a 1.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 44.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Optimum Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPTU. Swiss Life Asset Management Ltd acquired a new position in shares of Optimum Communications during the third quarter worth approximately $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 acquired a new stake in shares of Optimum Communications in the 4th quarter valued at $29,000. Voleon Capital Management LP acquired a new position in shares of Optimum Communications during the third quarter valued at $31,000. Finally, Xponance LLC bought a new position in Optimum Communications in the fourth quarter valued at about $34,000. Institutional investors and hedge funds 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.