Q2 2018 Earnings Estimate for ADTRAN, Inc. (ADTN) Issued By Jefferies Group
ADTRAN, Inc. (NASDAQ:ADTN) – Jefferies Group reduced their Q2 2018 earnings per share estimates for ADTRAN in a research note issued on Wednesday. Jefferies Group analyst G. Notter now expects that the communications equipment provider will post earnings of $0.28 per share for the quarter, down from their prior forecast of $0.30. Jefferies Group also issued estimates for ADTRAN’s Q4 2018 earnings at $0.21 EPS.
Several other research firms have also issued reports on ADTN. Needham & Company LLC lowered their price target on shares of ADTRAN from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Friday. Northland Securities reissued a “buy” rating on shares of ADTRAN in a research report on Friday. MKM Partners reissued a “buy” rating and issued a $26.50 price target (down previously from $27.50) on shares of ADTRAN in a research report on Monday, April 24th. Finally, Cowen and Company reissued a “market perform” rating and issued a $18.00 price target (up previously from $16.00) on shares of ADTRAN in a research report on Saturday. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.43.
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ADTRAN (NASDAQ:ADTN) opened at 23.30 on Monday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 29.09 and a beta of 0.61. ADTRAN has a 12 month low of $17.55 and a 12 month high of $23.90. The firm’s 50 day moving average is $20.52 and its 200-day moving average is $20.85.
ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.11. ADTRAN had a net margin of 5.68% and a return on equity of 8.39%. The firm had revenue of $184.67 million for the quarter, compared to analyst estimates of $183.05 million. During the same quarter in the prior year, the business posted $0.21 EPS.
A number of institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of ADTRAN by 9.6% in the fourth quarter. State Street Corp now owns 1,187,312 shares of the communications equipment provider’s stock valued at $26,537,000 after buying an additional 103,899 shares in the last quarter. FMR LLC boosted its position in shares of ADTRAN by 1.1% in the fourth quarter. FMR LLC now owns 100,051 shares of the communications equipment provider’s stock valued at $2,236,000 after buying an additional 1,055 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of ADTRAN by 124.0% in the fourth quarter. Guggenheim Capital LLC now owns 25,220 shares of the communications equipment provider’s stock valued at $563,000 after buying an additional 13,959 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of ADTRAN by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,970 shares of the communications equipment provider’s stock valued at $580,000 after buying an additional 1,370 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of ADTRAN during the fourth quarter valued at approximately $8,783,000. 91.49% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.36 annualized dividend and a yield of 1.55%. ADTRAN’s dividend payout ratio is currently 43.90%.
ADTRAN, Inc (ADTRAN) 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: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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