Analysts Anticipate Altus Midstream (NYSE:ALTM) to Post -$0.07 Earnings Per Share

Equities research analysts predict that Altus Midstream (NYSE:ALTM) will announce ($0.07) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Altus Midstream’s earnings. The business is expected to report its next earnings results 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 fiscal year, analysts anticipate that the business will post earnings of $0.30 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Altus Midstream.

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

A number of research firms recently weighed in on ALTM. Zacks Investment Research upgraded shares of Altus Midstream from a “sell” rating to a “hold” rating in a research note on Monday, June 10th. Citigroup reduced their price objective on shares of Altus Midstream from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Monday, June 10th. Finally, Barclays lowered shares of Altus Midstream from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.56.

In other news, CEO D. Clay Bretches purchased 20,000 shares of Altus Midstream stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of $5.20 per share, for a total transaction of $104,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Kayne Anderson Capital Advisor sold 221,600 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $6.03, for a total transaction of $1,336,248.00. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALTM. Kayne Anderson Capital Advisors LP purchased a new position in shares of Altus Midstream during the 4th quarter valued at $118,970,000. HITE Hedge Asset Management LLC purchased a new position in shares of Altus Midstream during the 4th quarter valued at $27,938,000. Tortoise Capital Advisors L.L.C. bought a new stake in shares of Altus Midstream during the 4th quarter worth $26,268,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Altus Midstream by 268.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,491,440 shares of the company’s stock worth $8,799,000 after acquiring an additional 1,086,240 shares during the last quarter. Finally, Citigroup Inc. bought a new stake in shares of Altus Midstream during the 4th quarter worth $8,282,000.

Altus Midstream stock traded down $0.25 during mid-day trading on Monday, reaching $3.99. The company’s stock had a trading volume of 920,089 shares, compared to its average volume of 493,856. Altus Midstream has a 12-month low of $3.90 and a 12-month high of $10.48.

Altus Midstream Company Profile

There is no company description available for Altus Midstream Co

Further Reading: How to track put option volume

Get a free copy of the Zacks research report on Altus Midstream (ALTM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Altus Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altus Midstream and related companies with MarketBeat.com's FREE daily email newsletter.