Altus Midstream (NYSE:ALTM) Expected to Announce Earnings of -$0.08 Per Share

Analysts forecast that Altus Midstream (NYSE:ALTM) will report ($0.08) earnings per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Altus Midstream’s earnings. The business is expected to issue its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Altus Midstream will report full year earnings of ($0.09) per share for the current financial year. For the next year, analysts expect that the firm will post earnings of $0.18 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Altus Midstream.

Altus Midstream (NYSE:ALTM) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $24.14 million during the quarter.



A number of research firms have recently commented on ALTM. Citigroup cut 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. Zacks Investment Research downgraded Altus Midstream from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.56.

In related news, CEO D. Clay Bretches bought 25,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $2.58 per share, for a total transaction of $64,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders bought 60,000 shares of company stock valued at $203,500.

Several hedge funds have recently bought and sold shares of the company. Squar Milner Financial Services LLC acquired a new stake in Altus Midstream during the 1st quarter valued at approximately $25,000. Strs Ohio acquired a new stake in Altus Midstream during the 2nd quarter valued at approximately $49,000. United Services Automobile Association acquired a new stake in Altus Midstream during the 2nd quarter valued at approximately $50,000. Comerica Bank acquired a new stake in Altus Midstream during the 1st quarter valued at approximately $68,000. Finally, Susquehanna International Group LLP acquired a new stake in Altus Midstream during the 2nd quarter valued at approximately $74,000.

Shares of Altus Midstream stock traded down $0.21 during trading hours on Friday, reaching $2.30. The stock had a trading volume of 664,563 shares, compared to its average volume of 671,006. The firm has a 50 day simple moving average of $3.18 and a two-hundred day simple moving average of $5.03. Altus Midstream has a 1 year low of $2.27 and a 1 year high of $10.48.

About Altus Midstream

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

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