Q1 2018 EPS Estimates for ADTRAN, Inc. Decreased by Jefferies Group (ADTN)
ADTRAN, Inc. (NASDAQ:ADTN) – Research analysts at Jefferies Group cut their Q1 2018 EPS estimates for shares of ADTRAN in a note issued to investors on Wednesday. Jefferies Group analyst G. Notter now anticipates that the communications equipment provider will post earnings of ($0.17) per share for the quarter, down from their prior forecast of $0.14. Jefferies Group has a “Hold” rating and a $17.25 price objective on the stock. Jefferies Group also issued estimates for ADTRAN’s Q3 2018 earnings at $0.26 EPS, FY2018 earnings at $0.48 EPS and FY2019 earnings at $0.77 EPS.
A number of other analysts also recently issued reports on the stock. TheStreet downgraded shares of ADTRAN from a “b” rating to a “c+” rating in a report on Wednesday, January 17th. BidaskClub downgraded shares of ADTRAN from a “sell” rating to a “strong sell” rating in a report on Friday. Northland Securities restated a “buy” rating and set a $23.00 price objective on shares of ADTRAN in a report on Thursday. Goldman Sachs Group upgraded shares of ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 price objective for the company in a report on Monday, January 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price objective (down previously from $26.00) on shares of ADTRAN in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.41.
ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. ADTRAN had a net margin of 3.58% and a return on equity of 7.95%. The business had revenue of $126.52 million during the quarter, compared to the consensus estimate of $125.90 million.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.36 dividend on an annualized basis and a yield of 2.20%. ADTRAN’s dividend payout ratio is presently 72.00%.
Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its position in shares of ADTRAN by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after acquiring an additional 373 shares during the period. Thompson Davis & CO. Inc. bought a new position in shares of ADTRAN in the third quarter valued at approximately $157,000. SG Americas Securities LLC bought a new position in shares of ADTRAN in the third quarter valued at approximately $190,000. Suntrust Banks Inc. bought a new position in shares of ADTRAN in the second quarter valued at approximately $208,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of ADTRAN in the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
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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