Optimum Communications (NYSE:OPTU) Rating Lowered to Strong Sell at Zacks Research

Optimum Communications (NYSE:OPTU) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a 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.

Other research analysts have also issued reports about the stock. Evercore set a $2.00 price target on shares of Optimum Communications in a research report on Friday, February 13th. Raymond James Financial downgraded Optimum Communications from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 11th. Benchmark lowered Optimum Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Optimum Communications in a research report on Wednesday, January 21st. Finally, Citigroup cut Optimum Communications from a “buy” rating to a “neutral” rating in a report on Sunday, February 15th. 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, Optimum Communications currently has a consensus rating of “Reduce” and an average price target of $2.19.

Optimum Communications Stock Down 3.3%

OPTU stock opened at $1.34 on Wednesday. The stock has a 50-day simple moving average of $1.60 and a two-hundred day simple moving average of $1.93. Optimum Communications has a twelve month low of $1.29 and a twelve month high of $2.98. The firm has a market capitalization of $628.06 million, a PE ratio of -0.33 and a beta of 1.51.

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

Insider Activity

In other news, General Counsel Michael Olsen sold 20,000 shares of Optimum Communications stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $1.40, for a total transaction of $28,000.00. Following the completion of the sale, the general counsel directly owned 1,239,781 shares of the company’s stock, valued at approximately $1,735,693.40. The trade was a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 44.60% of the company’s stock.

Institutional Investors Weigh In On Optimum Communications

Several hedge funds have recently added to or reduced their stakes in OPTU. Swiss Life Asset Management Ltd purchased a new position in shares of Optimum Communications in the 3rd quarter worth about $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Optimum Communications during the 3rd quarter valued at about $27,000. Cibc World Markets Corp bought a new stake in Optimum Communications in the 4th quarter worth approximately $29,000. Voleon Capital Management LP bought a new stake in Optimum Communications in the 3rd quarter worth approximately $31,000. Finally, Xponance LLC purchased a new stake in Optimum Communications in the fourth quarter worth approximately $34,000. 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.