Goldman Sachs Group Inc. Downgrades Adtran to Neutral (ADTN)
Adtran (NASDAQ:ADTN) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $30.00 price objective on the stock. Goldman Sachs Group Inc.’s target price would suggest a potential upside of 18.16% from the stock’s previous close.
A number of other firms have also recently commented on ADTN. Analysts at Jefferies Group raised their EPS on shares of Adtran in a research note to investors on Thursday, January 23rd. They now have an “underperform” rating on the stock. Analysts at MKM Partners raised their price target on shares of Adtran from $24.00 to $27.00 in a research note to investors on Thursday, January 23rd. They now have a “neutral” rating on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $24.88.
Shares of Adtran (NASDAQ:ADTN) traded down 2.12% during mid-day trading on Friday, hitting $25.39. The stock had a trading volume of 1,125,126 shares. Adtran has a 52-week low of $18.00 and a 52-week high of $27.98. The stock’s 50-day moving average is $26.07 and its 200-day moving average is $25.64. The company has a market cap of $1.452 billion and a P/E ratio of 33.69.
Adtran (NASDAQ:ADTN) last released its earnings data on Wednesday, January 22nd. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.11. The company had revenue of $159.10 million for the quarter, compared to the consensus estimate of $159.36 million. On average, analysts predict that Adtran will post $1.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 20th. Stockholders 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 1.42%. 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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