Zacks: Brokerages Expect ADTRAN, Inc. (ADTN) Will Post Quarterly Sales of $185.19 Million
Brokerages predict that ADTRAN, Inc. (NASDAQ:ADTN) will announce sales of $185.19 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ADTRAN’s earnings, with the lowest sales estimate coming in at $184.45 million and the highest estimate coming in at $186.80 million. ADTRAN reported sales of $168.89 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.7%. The company is expected to announce its next quarterly earnings report on Tuesday, October 17th.
On average, analysts expect that ADTRAN will report full-year sales of $185.19 million for the current fiscal year, with estimates ranging from $707.51 million to $712.70 million. For the next fiscal year, analysts anticipate that the business will report sales of $752.96 million per share, with estimates ranging from $729.10 million to $800.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow ADTRAN.
ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. The firm had revenue of $184.67 million during the quarter, compared to the consensus estimate of $183.05 million. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. During the same period in the prior year, the company earned $0.21 EPS.
Several analysts have issued reports on the company. Needham & Company LLC upped their target price on ADTRAN from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research cut ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub cut ADTRAN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Northland Securities restated a “buy” rating and issued a $28.00 target price on shares of ADTRAN in a report on Tuesday, September 5th. Finally, Cowen and Company restated a “market perform” rating and issued a $18.00 target price (up from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $24.14.
Shares of ADTRAN (NASDAQ:ADTN) traded up 0.22% during mid-day trading on Wednesday, reaching $22.45. The company had a trading volume of 101,129 shares. The stock’s 50-day moving average price is $22.11 and its 200 day moving average price is $20.97. The company has a market capitalization of $1.07 billion, a PE ratio of 28.03 and a beta of 0.68. ADTRAN has a 1-year low of $17.55 and a 1-year high of $24.05.
ILLEGAL ACTIVITY WARNING: This story was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/09/20/zacks-brokerages-expect-adtran-inc-adtn-will-post-quarterly-sales-of-185-19-million.html.
In other news, SVP Michael Foliano sold 24,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total value of $570,480.00. Following the transaction, the senior vice president now owns 5,417 shares of the company’s stock, valued at approximately $128,762.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.96% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. KBC Group NV lifted its stake in shares of ADTRAN by 49.6% in the 2nd quarter. KBC Group NV now owns 51,535 shares of the communications equipment provider’s stock valued at $1,064,000 after purchasing an additional 17,079 shares during the last quarter. BlackRock Inc. lifted its stake in shares of ADTRAN by 75,959.4% in the 1st quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock valued at $123,054,000 after purchasing an additional 5,922,556 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of ADTRAN by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,870,230 shares of the communications equipment provider’s stock valued at $59,558,000 after purchasing an additional 172,439 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of ADTRAN by 35.7% in the 1st quarter. OppenheimerFunds Inc. now owns 23,037 shares of the communications equipment provider’s stock valued at $478,000 after purchasing an additional 6,061 shares during the last quarter. Finally, First Midwest Bank Trust Division lifted its stake in shares of ADTRAN by 2.6% in the 2nd quarter. First Midwest Bank Trust Division now owns 20,828 shares of the communications equipment provider’s stock valued at $430,000 after purchasing an additional 518 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.
ADTRAN Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ADTRAN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.