Wall Street brokerages forecast that ADTRAN, Inc. (NASDAQ:ADTN) will report earnings of $0.08 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for ADTRAN’s earnings, with estimates ranging from $0.06 to $0.10. ADTRAN reported earnings of ($0.10) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 180%. The firm is scheduled to issue its next earnings report on Tuesday, July 16th.
On average, analysts expect that ADTRAN will report full year earnings of $0.42 per share for the current financial year, with EPS estimates ranging from $0.37 to $0.46. For the next year, analysts forecast that the business will report earnings of $0.54 per share. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover ADTRAN.
ADTRAN (NASDAQ:ADTN) last announced its earnings results on Wednesday, April 17th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. The business had revenue of $143.79 million during the quarter, compared to the consensus estimate of $140.55 million. ADTRAN had a negative return on equity of 0.32% and a negative net margin of 1.40%.
Several research analysts have recently weighed in on the company. BidaskClub raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, April 22nd. MKM Partners increased their price objective on ADTRAN to $20.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Cowen reissued a “market perform” rating and issued a $17.00 price objective (up from $14.00) on shares of ADTRAN in a research note on Monday, April 22nd. They noted that the move was a valuation call. Finally, ValuEngine downgraded ADTRAN from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. ADTRAN presently has a consensus rating of “Buy” and an average price target of $19.40.
In related news, VP Roger D. Shannon sold 5,701 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $17.65, for a total value of $100,622.65. Following the completion of the transaction, the vice president now directly owns 19,009 shares of the company’s stock, valued at approximately $335,508.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.52% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ADTN. Norges Bank acquired a new position in ADTRAN in the 4th quarter valued at $6,121,000. Renaissance Technologies LLC raised its stake in ADTRAN by 25.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,937,028 shares of the communications equipment provider’s stock valued at $26,537,000 after purchasing an additional 391,200 shares during the last quarter. WINTON GROUP Ltd acquired a new position in ADTRAN in the 4th quarter valued at $3,149,000. AQR Capital Management LLC acquired a new position in ADTRAN in the 1st quarter valued at $3,835,000. Finally, JPMorgan Chase & Co. raised its stake in ADTRAN by 160.4% in the 1st quarter. JPMorgan Chase & Co. now owns 369,989 shares of the communications equipment provider’s stock valued at $5,069,000 after purchasing an additional 227,882 shares during the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.
Shares of ADTN stock traded up $0.12 during trading hours on Monday, hitting $15.80. 291,600 shares of the company’s stock were exchanged, compared to its average volume of 410,542. The company has a market cap of $749.65 million, a price-to-earnings ratio of -33.62, a PEG ratio of 11.00 and a beta of 1.34. ADTRAN has a fifty-two week low of $10.21 and a fifty-two week high of $19.30.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, May 1st. ADTRAN’s dividend payout ratio is currently -76.60%.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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