Adtran (ADTN) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Adtran (NASDAQ:ADTN) issued its quarterly earnings data on Wednesday. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.06, Stock Ratings Network reports. The company had revenue of $177.40 million for the quarter, compared to the consensus estimate of $175.10 million.
Adtran (NASDAQ:ADTN) opened at 26.75 on Wednesday. Adtran has a 1-year low of $15.38 and a 1-year high of $27.92. The stock’s 50-day moving average is $26.13 and its 200-day moving average is $23.98. The company has a market cap of $1.557 billion and a price-to-earnings ratio of 54.15.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 7th. Stockholders of record on Thursday, October 24th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Tuesday, October 22nd.
ADTN has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Adtran from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $28.00 price target on the stock. On a related note, analysts at MKM Partners raised their price target on shares of Adtran from $22.00 to $24.00 in a research note to investors on Thursday, September 12th. They now have a “neutral” rating on the stock. Five analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $21.64.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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