Adtran (ADTN) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS
Adtran (NASDAQ:ADTN) issued its quarterly earnings data on Wednesday. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.11, StockRatingsNetwork.com reports. The company had revenue of $159.10 million for the quarter, compared to the consensus estimate of $159.36 million.
On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Adtran in a research note to investors on Friday, October 25th. They now have a $25.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Adtran currently has an average rating of “Hold” and an average price target of $23.56.
Shares of Adtran (NASDAQ:ADTN) opened at 26.07 on Wednesday. Adtran has a 1-year low of $18.00 and a 1-year high of $27.92. The stock’s 50-day moving average is $26.03 and its 200-day moving average is $25.59. The company has a market cap of $1.504 billion and a price-to-earnings ratio of 39.87.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of 0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, February 4th.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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