Optimum Communications, Inc. (NYSE:OPTU) Receives Average Recommendation of "Reduce" from Analysts

Shares of Optimum Communications, Inc. (NYSE:OPTU - Get Free Report) have received a consensus rating of "Reduce" from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2.1875.Get Optimum Communications alerts:3 Large Cap Laggards Poised to RallySeveral research analysts recently weighed in on the stock. Evercore set a $2.00 price objective on shares of Optimum Communications in a research note on Friday, February 13th. Citigroup lowered shares of Optimum Communications from a "buy" rating to a "neutral" rating in a report on Sunday, February 15th. Zacks Research cut shares of Optimum Communications from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 18th. Benchmark lowered shares of Optimum Communications from a "buy" rating to a "hold" rating in a report on Tuesday, February 10th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Optimum Communications in a research report on Wednesday, January 21st.Get Our Latest Research Report on Optimum CommunicationsOptimum Communications Stock Down 4.0%NYSE OPTU traded down $0.06 on Friday, reaching $1.32. The company had a trading volume of 106,952 shares, compared to its average volume of 2,322,302. Optimum Communications has a 52 week low of $1.20 and a 52 week high of $2.98. The stock's 50 day moving average is $1.55 and its 200-day moving average is $1.90. The stock has a market cap of $618.65 million, a price-to-earnings ratio of -0.33 and a beta of 1.51. Optimum Communications (NYSE:OPTU - Get Free Report) last issued its 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). The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) earnings per share. As a group, analysts forecast that Optimum Communications will post -0.24 EPS for the current year. Insider Transactions at Optimum CommunicationsIn other Optimum Communications news, General Counsel Michael Olsen sold 250,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $1.60, for a total value of $400,000.00. Following the completion of the sale, the general counsel directly owned 1,496,277 shares in the company, valued at $2,394,043.20. This represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 44.60% of the company's stock. Hedge Funds Weigh In On Optimum CommunicationsInstitutional investors and hedge funds have recently modified their holdings of the business. Swiss Life Asset Management Ltd acquired a new stake in Optimum Communications during the 3rd quarter worth approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Optimum Communications during the third quarter worth $27,000. Cibc World Markets Corp acquired a new stake in shares of Optimum Communications during the fourth quarter worth $29,000. Voleon Capital Management LP bought a new stake in Optimum Communications in the 3rd quarter valued at $31,000. Finally, Xponance LLC bought a new stake in Optimum Communications in the 4th quarter valued at $34,000. 54.85% of the stock is currently owned by institutional investors and hedge funds. Optimum Communications Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than Optimum CommunicationsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Optimum Communications Right Now?Before you consider Optimum Communications, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Optimum Communications wasn't on the list.While Optimum Communications currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here