Zacks: Brokerages Anticipate ADTRAN, Inc. (ADTN) to Post $0.15 Earnings Per Share
Wall Street analysts predict that ADTRAN, Inc. (NASDAQ:ADTN) will report earnings of $0.15 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ADTRAN’s earnings, with estimates ranging from $0.13 to $0.16. ADTRAN reported earnings per share of $0.16 in the same quarter last year, which suggests a negative year over year growth rate of 6.3%. The company is scheduled to announce its next quarterly earnings report on Tuesday, January 16th.
According to Zacks, analysts expect that ADTRAN will report full year earnings of $0.88 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $0.94 per share, with EPS estimates ranging from $0.92 to $0.95. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow ADTRAN.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. The business had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%.
A number of brokerages have recently commented on ADTN. Needham & Company LLC boosted their target price on shares of ADTRAN from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 10th. BidaskClub cut shares of ADTRAN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Northland Securities set a $28.00 target price on shares of ADTRAN and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research cut shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.29.
Shares of ADTRAN (NASDAQ:ADTN) traded down $0.40 during mid-day trading on Friday, hitting $22.35. 197,500 shares of the stock were exchanged, compared to its average volume of 339,236. ADTRAN has a 1 year low of $18.92 and a 1 year high of $25.10. The company has a market cap of $1,095.40, a PE ratio of 24.73, a PEG ratio of 2.59 and a beta of 0.77. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, October 31st. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.
In other news, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the sale, the senior vice president now owns 11,658 shares in the company, valued at approximately $252,978.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin P. Heering sold 9,809 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the transaction, the senior vice president now owns 10,162 shares in the company, valued at approximately $219,499.20. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ADTN. Renaissance Technologies LLC boosted its stake in ADTRAN by 25.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock worth $33,456,000 after purchasing an additional 328,600 shares in the last quarter. Northern Trust Corp boosted its stake in ADTRAN by 37.1% in the 2nd quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock worth $18,886,000 after purchasing an additional 247,413 shares in the last quarter. FMR LLC boosted its stake in ADTRAN by 167.6% in the 2nd quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock worth $8,070,000 after purchasing an additional 244,770 shares in the last quarter. William Blair Investment Management LLC boosted its stake in ADTRAN by 28.7% in the 2nd quarter. William Blair Investment Management LLC now owns 853,029 shares of the communications equipment provider’s stock worth $17,615,000 after purchasing an additional 190,309 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in ADTRAN by 204.4% in the 2nd quarter. Prudential Financial Inc. now owns 278,871 shares of the communications equipment provider’s stock worth $5,759,000 after purchasing an additional 187,250 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.
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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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