Adtran Inc. (ADTN) Scheduled to Post Quarterly Earnings on Tuesday
Adtran Inc. (NASDAQ:ADTN) is scheduled to be posting its Q316 quarterly earnings results on Tuesday, October 18th. Analysts expect Adtran to post earnings of $0.23 per share and revenue of $110.31 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
Shares of Adtran Inc. (NASDAQ:ADTN) opened at 18.07 on Monday. Adtran Inc. has a 52-week low of $13.92 and a 52-week high of $21.43. The company’s 50-day moving average price is $18.75 and its 200-day moving average price is $18.79. The firm has a market cap of $874.55 million, a PE ratio of 32.04 and a beta of 0.95.
ADTN has been the topic of several research reports. MKM Partners reaffirmed a “buy” rating and set a $24.00 price objective on shares of Adtran in a report on Sunday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Adtran in a report on Thursday, July 14th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Adtran has an average rating of “Hold” and a consensus price target of $22.05.
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Several hedge funds have recently added to or reduced their stakes in the stock. Menta Capital LLC purchased a new stake in Adtran during the second quarter worth approximately $397,000. Thrivent Financial for Lutherans boosted its position in Adtran by 5.6% in the second quarter. Thrivent Financial for Lutherans now owns 23,860 shares of the company’s stock worth $445,000 after buying an additional 1,260 shares during the period. Profund Advisors LLC boosted its position in Adtran by 3.3% in the second quarter. Profund Advisors LLC now owns 15,992 shares of the company’s stock worth $298,000 after buying an additional 516 shares during the period. Teachers Advisors Inc. boosted its position in Adtran by 2.7% in the second quarter. Teachers Advisors Inc. now owns 80,824 shares of the company’s stock worth $1,507,000 after buying an additional 2,124 shares during the period. Finally, FIL Ltd boosted its position in Adtran by 6.6% in the second quarter. FIL Ltd now owns 611,968 shares of the company’s stock worth $11,413,000 after buying an additional 37,775 shares during the period. Institutional investors and hedge funds own 96.11% of the company’s stock.
ADTRAN, Inc is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. Its Carrier Networks Division supplies the network access products, services and supports that service providers require to connect their customers to transmission and switching networks.
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