Zacks Investment Research Lowers Atento (NYSE:ATTO) to Sell
According to Zacks, “Atento S.A. is a provider of customer relationship management and business process outsourcing (CRM BPO) services in Latin America and Spain. Its CRM BPO services include customer service, sales, credit management, technical support, back office, and service desk, as well as other BPO process services, such as training activities, workstation infrastructure, interactive voice response port implementation, telecommunications infrastructure, application development, and others. The Company’s clients are mostly multinational corporations in sectors such as telecommunications, banking and finance, health, consumption and public administration, among others. Atento S.A. is based in Luxembourg. “
Several other research firms have also issued reports on ATTO. Barrington Research decreased their target price on Atento from $150.00 to $100.00 and set an outperform rating for the company in a research report on Tuesday, May 19th. Goldman Sachs Group downgraded Atento from a neutral rating to a sell rating and set a $17.50 price target for the company. in a research report on Wednesday, April 29th.
Atento (NYSE:ATTO) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($3.25). The company had revenue of $375.40 million during the quarter, compared to analyst estimates of $422.47 million. Atento had a negative net margin of 2.59% and a negative return on equity of 7.74%. Equities research analysts predict that Atento will post -1.16 EPS for the current year.
An institutional investor recently bought a new position in Atento stock. Eidelman Virant Capital purchased a new position in shares of Atento SA (NYSE:ATTO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 35,583 shares of the business services provider’s stock, valued at approximately $42,000. 69.69% of the stock is owned by hedge funds and other institutional investors.
Atento Company Profile
Atento SA, together with its subsidiaries, provides customer relationship management and business process outsourcing services and solutions in Brazil, the Americas, Europe, the Middle East, and Africa. It offers a range of front and back-end services, including sales, customer care, collections, back office, applications-processing, credit-management, and technical support services.
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