Adtran Rating Reiterated by Zacks (ADTN)
Adtran (NASDAQ:ADTN)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Monday, AnalystRatings.NET reports. They currently have a $27.00 price target on the stock. Zacks‘ price objective would suggest a potential upside of 4.45% from the stock’s previous close.
Zacks‘ analyst wrote, “ADTRAN posted mixed financial results for the fourth quarter of 2013. Meanwhile, the company continues to perform well owing to strong contributions from the U.S., the Europe, the Middle East and Africa and Latin America regions. ADTRAN has stabilized its businesses with the Tier 1 carriers and has also won contracts from Tier 2 and Tier 3 carriers. We expect the company to benefit from market share gain, strong growth of core products, solid international sales and growing service revenues. However, global macroeconomic fluctuations, foreign currency risk and stiff competition may act as headwinds for ADTRAN moving ahead. Moreover, the stock price has soared more than 43.6% in the last one year and is currently trading at the high-end of its 52-week price range. Therefore, we maintain our long term Neutral recommendation on ADTRAN.”
A number of other firms have also recently commented on ADTN. Analysts at Thomson Reuters/Verus upgraded shares of Adtran from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Separately, analysts at Goldman Sachs downgraded shares of Adtran from a “buy” rating to a “neutral” rating in a research note on Friday, January 31st. They now have a $30.00 price target on the stock. Finally, analysts at Jefferies Group raised their EPS on shares of Adtran in a research note on Thursday, January 23rd. They now have an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.13.
Adtran (NASDAQ:ADTN) traded up 0.43% on Monday, hitting $25.85. 223,646 shares of the company’s stock traded hands. Adtran has a one year low of $18.00 and a one year high of $27.98. The stock’s 50-day moving average is $25.76 and its 200-day moving average is $25.56. The company has a market cap of $1.478 billion and a price-to-earnings ratio of 33.43.
Adtran (NASDAQ:ADTN) last released its earnings data on Wednesday, January 22nd. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Adtran will post $1.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, February 4th.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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