ADTRAN Price Target Lowered to $25.00 at MKM Partners (ADTN)
Equities researchers at MKM Partners cut their price objective on shares of ADTRAN (NASDAQ:ADTN) from $26.00 to $25.00 in a research report issued on Thursday. The firm currently has a “neutral” rating on the stock. MKM Partners’ target price indicates a potential upside of 10.08% from the stock’s previous close.
ADTRAN (NASDAQ:ADTN) traded down 2.03% during mid-day trading on Thursday, hitting $22.25. 490,853 shares of the company’s stock traded hands. ADTRAN has a one year low of $20.72 and a one year high of $27.98. The stock has a 50-day moving average of $22.28 and a 200-day moving average of $24.09. The company has a market cap of $1.233 billion and a price-to-earnings ratio of 25.09.
ADTRAN (NASDAQ:ADTN) last announced its earnings results on Wednesday, July 16th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $176.10 million for the quarter, compared to the consensus estimate of $175.68 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts expect that ADTRAN will post $1.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, July 29th.
A number of other analysts have also recently weighed in on ADTN. Analysts at Needham & Company LLC cut their price target on shares of ADTRAN from $30.00 to $28.00 in a research note on Thursday. They now have a “buy” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of ADTRAN in a research note on Wednesday, April 30th. They now have a $24.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. ADTRAN has an average rating of “Hold” and a consensus price target of $23.50.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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