ADTRAN, Inc. (ADTN) Expected to Earn FY2017 Earnings of $0.88 Per Share
ADTRAN, Inc. (NASDAQ:ADTN) – Analysts at Jefferies Group increased their FY2017 earnings estimates for ADTRAN in a research note issued on Thursday. Jefferies Group analyst G. Notter now anticipates that the communications equipment provider will post earnings per share of $0.88 for the year, up from their prior forecast of $0.82. Jefferies Group also issued estimates for ADTRAN’s Q4 2017 earnings at $0.13 EPS, Q2 2018 earnings at $0.27 EPS and Q3 2018 earnings at $0.31 EPS.
ADTN has been the topic of a number of other reports. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a report on Friday. Northland Securities set a $28.00 price objective on shares of ADTRAN and gave the company a “buy” rating in a report on Wednesday. BidaskClub raised shares of ADTRAN from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Needham & Company LLC upped their price objective on shares of ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $18.00 price objective (up from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. ADTRAN presently has an average rating of “Buy” and a consensus target price of $24.29.
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ADTRAN (ADTN) opened at 21.95 on Friday. ADTRAN has a 52-week low of $17.55 and a 52-week high of $25.10. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 24.94 and a beta of 0.75. The company’s 50-day moving average is $23.08 and its 200-day moving average is $21.37.
ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. The company had revenue of $185.11 million during the quarter, compared to analysts’ expectations of $185.43 million. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, October 31st. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.
In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $23.77, for a total transaction of $570,480.00. Following the sale, the senior vice president now directly owns 5,417 shares of the company’s stock, valued at $128,762.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.96% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADTN. Karp Capital Management Corp purchased a new stake in ADTRAN during the first quarter valued at about $281,000. Ameriprise Financial Inc. lifted its holdings in ADTRAN by 10.9% during the first quarter. Ameriprise Financial Inc. now owns 269,207 shares of the communications equipment provider’s stock valued at $5,586,000 after purchasing an additional 26,545 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in ADTRAN by 7.3% during the first quarter. Mason Street Advisors LLC now owns 11,346 shares of the communications equipment provider’s stock valued at $235,000 after purchasing an additional 770 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in ADTRAN by 6.8% during the first quarter. JPMorgan Chase & Co. now owns 176,297 shares of the communications equipment provider’s stock valued at $3,658,000 after purchasing an additional 11,192 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in ADTRAN during the first quarter valued at about $160,000. 89.47% of the stock is currently owned by institutional investors and hedge funds.
ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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