ADTRAN (NASDAQ:ADTN) Issues Earnings Results, Misses Expectations By $0.01 EPS

ADTRAN (NASDAQ:ADTN) issued its quarterly earnings data on Monday. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01), Briefing.com reports. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The company had revenue of $279.44 million during the quarter, compared to the consensus estimate of $274.60 million. During the same period in the previous year, the company earned ($0.05) earnings per share. ADTRAN’s revenue for the quarter was up 22.7% compared to the same quarter last year.

ADTRAN Trading Up 0.1%

NASDAQ:ADTN opened at $10.43 on Tuesday. The firm has a fifty day simple moving average of $9.54 and a two-hundred day simple moving average of $8.87. ADTRAN has a 12 month low of $6.02 and a 12 month high of $12.44. The stock has a market capitalization of $834.17 million, a price-to-earnings ratio of -7.96 and a beta of 1.37. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12.

Analyst Upgrades and Downgrades

ADTN has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. B. Riley assumed coverage on shares of ADTRAN in a research report on Thursday, September 18th. They set a “buy” rating and a $16.00 price objective for the company. Wall Street Zen downgraded ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Wolfe Research started coverage on ADTRAN in a report on Monday, July 7th. They set a “peer perform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ADTRAN presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State of Wyoming bought a new stake in ADTRAN during the second quarter worth $374,000. Tower Research Capital LLC TRC raised its holdings in shares of ADTRAN by 1,055.0% in the second quarter. Tower Research Capital LLC TRC now owns 33,403 shares of the communications equipment provider’s stock valued at $300,000 after purchasing an additional 30,511 shares during the last quarter. Vident Advisory LLC bought a new position in shares of ADTRAN during the second quarter valued at about $130,000. Paradigm Capital Management Inc. NY lifted its position in shares of ADTRAN by 50.0% during the second quarter. Paradigm Capital Management Inc. NY now owns 120,000 shares of the communications equipment provider’s stock valued at $1,076,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Man Group plc boosted its holdings in ADTRAN by 264.7% during the second quarter. Man Group plc now owns 392,799 shares of the communications equipment provider’s stock worth $3,523,000 after purchasing an additional 285,105 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.