ADTRAN, Inc. (ADTN) Expected to Announce Quarterly Sales of $162.10 Million
Equities research analysts forecast that ADTRAN, Inc. (NASDAQ:ADTN) will announce sales of $162.10 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for ADTRAN’s earnings, with the highest sales estimate coming in at $164.80 million and the lowest estimate coming in at $159.90 million. ADTRAN posted sales of $162.99 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The company is expected to announce its next earnings report on Tuesday, January 16th.
On average, analysts expect that ADTRAN will report full-year sales of $162.10 million for the current fiscal year, with estimates ranging from $700.00 million to $704.80 million. For the next year, analysts expect that the business will report sales of $737.23 million per share, with estimates ranging from $704.50 million to $780.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow ADTRAN.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million.
Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a report on Friday, October 20th. Northland Securities set a $28.00 target price on shares of ADTRAN and gave the stock a “buy” rating in a report on Wednesday, October 18th. BidaskClub raised shares of ADTRAN from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Needham & Company LLC increased their price objective on shares of ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Finally, Cowen and Company reissued a “market perform” rating and set a $18.00 price objective (up previously from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.29.
In other ADTRAN news, SVP Kevin P. Heering sold 9,809 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the transaction, the senior vice president now owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Raymond R. Schansman sold 48,056 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the transaction, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at approximately $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ADTN. Karp Capital Management Corp purchased a new stake in shares of ADTRAN during the 1st quarter valued at about $281,000. Ameriprise Financial Inc. raised its position in shares of ADTRAN by 10.9% during the 1st quarter. Ameriprise Financial Inc. now owns 269,207 shares of the communications equipment provider’s stock valued at $5,586,000 after buying an additional 26,545 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of ADTRAN by 6.8% during the 1st quarter. JPMorgan Chase & Co. now owns 176,297 shares of the communications equipment provider’s stock valued at $3,658,000 after buying an additional 11,192 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of ADTRAN during the 1st quarter valued at about $160,000. Finally, Arizona State Retirement System raised its position in shares of ADTRAN by 1.2% during the 1st quarter. Arizona State Retirement System now owns 25,245 shares of the communications equipment provider’s stock valued at $524,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 89.47% of the company’s stock.
Shares of ADTRAN (NASDAQ ADTN) opened at 21.00 on Friday. The firm’s 50-day moving average price is $23.01 and its 200-day moving average price is $21.42. The stock has a market cap of $1.01 billion, a P/E ratio of 23.86 and a beta of 0.75. ADTRAN has a 52-week low of $17.55 and a 52-week high of $25.10.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, October 31st. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.
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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