Atento S.A. (ATTO) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Atento S.A. (NYSE:ATTO) from a hold rating to a sell rating in a research report report published on Friday morning.

According to Zacks, “Atento S.A. is a provider of customer relationship management and business process outsourcing (CRM BPO) services in Latin America and Spain. Its CRM BPO services include customer service, sales, credit management, technical support, back office, and service desk, as well as other BPO process services, such as training activities, workstation infrastructure, interactive voice response port implementation, telecommunications infrastructure, application development, and others. The Company’s clients are mostly multinational corporations in sectors such as telecommunications, banking and finance, health, consumption and public administration, among others. Atento S.A. is based in Luxembourg. “

A number of other research analysts have also commented on the company. Bank of America Corporation upped their price target on Atento from $11.00 to $13.00 and gave the company a neutral rating in a research report on Tuesday, July 25th. ValuEngine raised Atento from a hold rating to a buy rating in a research report on Friday, September 1st. BidaskClub lowered Atento from a strong-buy rating to a buy rating in a research report on Wednesday, August 30th. Robert W. Baird reissued a buy rating on shares of Atento in a research report on Tuesday, September 19th. Finally, Barrington Research increased their target price on Atento from $14.00 to $16.00 and gave the stock an outperform rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $14.50.

Atento (NYSE:ATTO) traded down $0.60 during midday trading on Friday, reaching $11.60. 5,456 shares of the company’s stock were exchanged, compared to its average volume of 19,907. The company has a market cap of $901.60, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.01 and a beta of 0.05. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.09. Atento has a 12-month low of $6.85 and a 12-month high of $12.90.

Atento (NYSE:ATTO) last released its quarterly earnings results on Monday, August 14th. The business services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $473.70 million for the quarter, compared to the consensus estimate of $464.12 million. Atento had a net margin of 0.52% and a return on equity of 12.63%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. research analysts predict that Atento will post 0.8 EPS for the current fiscal year.

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The business also recently disclosed an annual dividend, which will be paid on Tuesday, November 28th. Investors of record on Friday, November 10th will be given a dividend of $0.338 per share. The ex-dividend date of this dividend is Thursday, November 9th.

A number of hedge funds have recently bought and sold shares of the stock. Smith Moore & CO. bought a new position in Atento during the 3rd quarter valued at approximately $232,000. Edinburgh Partners Ltd increased its position in Atento by 237.3% during the 3rd quarter. Edinburgh Partners Ltd now owns 98,500 shares of the business services provider’s stock valued at $1,143,000 after buying an additional 69,300 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Atento during the 2nd quarter valued at $115,000. Quantum Capital Management boosted its stake in Atento by 1.1% during the 2nd quarter. Quantum Capital Management now owns 16,911 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 178 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Atento by 26.3% during the 2nd quarter. Nationwide Fund Advisors now owns 540,844 shares of the business services provider’s stock valued at $6,030,000 after purchasing an additional 112,564 shares during the last quarter. 95.73% of the stock is owned by institutional investors.

About Atento

Atento SA is a provider of customer-relationship management and business-process outsourcing (CRM BPO) services and solutions in Latin America. The Company offers a portfolio of CRM BPO services, including customer care, sales, collections, back office and technical support. The Company operates through three segments: EMEA, Americas and Brazil.

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