Q1 2018 EPS Estimates for ADTRAN, Inc. (ADTN) Lowered by Jefferies Group
ADTRAN, Inc. (NASDAQ:ADTN) – Research analysts at Jefferies Group decreased their Q1 2018 EPS estimates for shares of ADTRAN in a research note issued on Thursday. Jefferies Group analyst G. Notter now expects that the communications equipment provider will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.15. Jefferies Group also issued estimates for ADTRAN’s FY2018 earnings at $0.92 EPS.
ADTN has been the topic of several other reports. Zacks Investment Research cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. BidaskClub upgraded shares of ADTRAN from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Northland Securities restated a “buy” rating on shares of ADTRAN in a research report on Friday, July 21st. Needham & Company LLC upped their target price on shares of 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 restated a “market perform” rating and set a $18.00 target price (up from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $24.29.
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ADTRAN (NASDAQ ADTN) opened at 21.95 on Monday. The company has a market capitalization of $1.05 billion, a PE ratio of 24.94 and a beta of 0.75. ADTRAN has a 52 week low of $17.55 and a 52 week high of $25.10. The stock’s 50 day moving average price is $23.08 and its 200-day moving average price is $21.37.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. The firm had revenue of $185.11 million for the quarter, compared to analysts’ expectations of $185.43 million.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.36 annualized dividend and a yield of 1.64%. ADTRAN’s payout ratio is 40.45%.
In related news, SVP Michael Foliano sold 24,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $23.77, for a total transaction of $570,480.00. Following the transaction, the senior vice president now directly owns 5,417 shares in the company, valued at approximately $128,762.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.96% of the company’s stock.
Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in ADTRAN by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 373 shares during the last quarter. SG Americas Securities LLC bought a new position in ADTRAN during the 1st quarter valued at about $160,000. State of Alaska Department of Revenue grew its holdings in ADTRAN by 78.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,524 shares of the communications equipment provider’s stock valued at $196,000 after purchasing an additional 4,174 shares during the last quarter. Suntrust Banks Inc. bought a new position in ADTRAN during the 2nd quarter valued at about $208,000. Finally, Piedmont Investment Advisors LLC bought a new position in ADTRAN during the 2nd quarter valued at about $216,000. Institutional investors own 89.47% of the company’s stock.
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.
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