Zacks: Brokerages Anticipate Altus Midstream (NYSE:ALTM) to Announce -$0.07 Earnings Per Share

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Wall Street brokerages expect Altus Midstream (NYSE:ALTM) to announce ($0.07) earnings per share for the current quarter, according to Zacks. Zero analysts have provided estimates for Altus Midstream’s earnings. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Altus Midstream will report full year earnings of ($0.11) per share for the current year. For the next financial year, analysts expect that the firm will report earnings of $0.30 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Altus Midstream.

Altus Midstream (NYSE:ALTM) last issued its earnings results on Thursday, May 2nd. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $33.85 million during the quarter.

ALTM has been the topic of several research reports. Zacks Investment Research raised Altus Midstream from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a report on Tuesday, April 9th. Barclays downgraded Altus Midstream from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $10.00 to $7.00 in a report on Tuesday, April 16th. Finally, Citigroup reduced their price objective on Altus Midstream from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $7.56.

Shares of NYSE ALTM traded up $0.10 during mid-day trading on Wednesday, reaching $3.70. The company had a trading volume of 1,312 shares, compared to its average volume of 598,364. The business has a 50-day moving average price of $4.28. Altus Midstream has a 1-year low of $3.48 and a 1-year high of $10.48.

In related news, CEO D. Clay Bretches purchased 20,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $4.22 per share, with a total value of $84,400.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 55,000 shares of company stock worth $243,000.

Several hedge funds have recently bought and sold shares of ALTM. Squar Milner Financial Services LLC bought a new stake in shares of Altus Midstream during the first quarter worth $25,000. Comerica Bank purchased a new stake in shares of Altus Midstream during the first quarter valued at about $68,000. Geode Capital Management LLC purchased a new stake in shares of Altus Midstream during the fourth quarter valued at about $95,000. Comerica Securities Inc. purchased a new stake in shares of Altus Midstream during the fourth quarter valued at about $106,000. Finally, Cohen & Steers Inc. purchased a new stake in shares of Altus Midstream during the fourth quarter valued at about $126,000.

About Altus Midstream

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Earnings History and Estimates for Altus Midstream (NYSE:ALTM)

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