Brokerages Anticipate Atento SA (ATTO) Will Post Quarterly Sales of $430.11 Million
Brokerages expect Atento SA (NYSE:ATTO) to report $430.11 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Atento’s earnings, with estimates ranging from $426.12 million to $434.10 million. Atento posted sales of $478.30 million during the same quarter last year, which would indicate a negative year over year growth rate of 10.1%. The company is scheduled to issue its next quarterly earnings report on Monday, March 18th.
On average, analysts expect that Atento will report full-year sales of $1.82 billion for the current fiscal year, with estimates ranging from $1.80 billion to $1.83 billion. For the next year, analysts expect that the firm will post sales of $1.79 billion, with estimates ranging from $1.73 billion to $1.87 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Atento.
Several brokerages have weighed in on ATTO. Robert W. Baird cut their target price on Atento from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, July 30th. ValuEngine downgraded Atento from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 27th. Barrington Research reissued a “buy” rating and issued a $14.00 price objective on shares of Atento in a research note on Tuesday, July 31st. Finally, Zacks Investment Research downgraded Atento from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Atento presently has a consensus rating of “Hold” and a consensus price target of $10.17.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in shares of Atento by 0.5% in the 3rd quarter. Acadian Asset Management LLC now owns 1,547,540 shares of the business services provider’s stock worth $11,605,000 after buying an additional 8,221 shares in the last quarter. Royce & Associates LP raised its stake in shares of Atento by 20.8% in the 2nd quarter. Royce & Associates LP now owns 1,105,701 shares of the business services provider’s stock worth $7,574,000 after buying an additional 190,200 shares in the last quarter. Morgan Stanley raised its stake in shares of Atento by 13.2% in the 3rd quarter. Morgan Stanley now owns 645,786 shares of the business services provider’s stock worth $4,844,000 after buying an additional 75,074 shares in the last quarter. Bank of America Corp DE raised its position in shares of Atento by 52.4% during the second quarter. Bank of America Corp DE now owns 486,135 shares of the business services provider’s stock worth $3,330,000 after purchasing an additional 167,174 shares during the period. Finally, Monashee Investment Management LLC raised its position in shares of Atento by 26.4% during the third quarter. Monashee Investment Management LLC now owns 322,400 shares of the business services provider’s stock worth $2,418,000 after purchasing an additional 67,400 shares during the period. 91.15% of the stock is currently owned by institutional investors.
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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