Brokers Issue Forecasts for ADTRAN, Inc.’s FY2017 Earnings (ADTN)
ADTRAN, Inc. (NASDAQ:ADTN) – Equities researchers at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of ADTRAN in a research note issued on Thursday. Jefferies Group analyst G. Notter now anticipates that the communications equipment provider will post earnings per share of $0.88 for the year, up from their previous forecast of $0.82. Jefferies Group also issued estimates for ADTRAN’s Q4 2017 earnings at $0.13 EPS, Q2 2018 earnings at $0.27 EPS and Q3 2018 earnings at $0.31 EPS.
ADTN has been the subject of a number of other research reports. Zacks Investment Research downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. BidaskClub raised ADTRAN from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Northland Securities reissued a “buy” rating on shares of ADTRAN in a research report on Friday, July 21st. Needham & Company LLC boosted their price target on ADTRAN from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Cowen and Company reissued a “market perform” rating and set a $18.00 price target (up previously from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $24.29.
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ADTRAN (NASDAQ ADTN) traded down 1.37% during trading on Friday, hitting $21.55. The stock had a trading volume of 243,614 shares. ADTRAN has a one year low of $17.55 and a one year high of $25.10. The stock’s 50-day moving average is $23.08 and its 200 day moving average is $21.36. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 24.49 and a beta of 0.75.
ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. The business had revenue of $185.11 million during the quarter, compared to analysts’ expectations of $185.43 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%.
Several institutional investors and hedge funds have recently modified their holdings of ADTN. Public Employees Retirement System of Ohio lifted its stake in shares of ADTRAN by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 373 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of ADTRAN during the first quarter worth about $160,000. State of Alaska Department of Revenue lifted its stake in shares of ADTRAN by 78.0% during the second quarter. State of Alaska Department of Revenue now owns 9,524 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 4,174 shares in the last quarter. Suntrust Banks Inc. acquired a new position in shares of ADTRAN during the second quarter worth about $208,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of ADTRAN during the second quarter worth about $216,000. Institutional investors own 89.47% of the company’s stock.
In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total transaction of $570,480.00. Following the completion of the sale, the senior vice president now owns 5,417 shares of the company’s stock, valued at $128,762.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.96% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, October 31st. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.
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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