ADTRAN, Inc. (ADTN) Expected to Announce Quarterly Sales of $162.10 Million
Equities analysts predict that ADTRAN, Inc. (NASDAQ:ADTN) will report $162.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for ADTRAN’s earnings, with estimates ranging from $159.90 million to $164.80 million. ADTRAN posted sales of $162.99 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.5%. The company is scheduled to announce its next earnings report on Tuesday, January 16th.
According to Zacks, analysts expect that ADTRAN will report full year sales of $162.10 million for the current year, with estimates ranging from $700.00 million to $704.80 million. For the next financial year, analysts anticipate that the firm 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 averages are a mean average based on a survey of research analysts 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 Thomson Reuters’ consensus estimate of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The company had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million.
Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research report on Friday, October 20th. Northland Securities set a $28.00 price objective on shares of ADTRAN and gave the stock a “buy” rating in a research report on Wednesday, October 18th. BidaskClub raised shares of ADTRAN from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Needham & Company LLC raised their price objective on shares of ADTRAN from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Finally, Cowen and Company reissued a “market perform” rating and set a $18.00 price objective (up from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. ADTRAN has an average rating of “Hold” and an average price target of $24.29.
COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/17/adtran-inc-adtn-expected-to-announce-quarterly-sales-of-162-10-million-2.html.
Shares of ADTRAN (NASDAQ:ADTN) traded up $0.30 during trading on Friday, reaching $21.05. 480,000 shares of the company’s stock traded hands, compared to its average volume of 342,529. ADTRAN has a 52 week low of $18.92 and a 52 week high of $25.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.43. The stock has a market cap of $999.10, a P/E ratio of 22.55, a P/E/G ratio of 2.36 and a beta of 0.71.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, October 31st. ADTRAN’s payout ratio is 40.45%.
In related news, SVP Kevin P. Heering sold 9,809 shares of the business’s 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 sale, the senior vice president now owns 10,162 shares of the company’s stock, valued at $219,499.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the sale, the senior vice president now directly owns 11,658 shares in the company, valued at approximately $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. purchased a new stake in ADTRAN during the third quarter worth about $157,000. Public Employees Retirement System of Ohio boosted its holdings in 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 buying an additional 373 shares in the last quarter. SG Americas Securities LLC purchased a new stake in ADTRAN during the third quarter worth about $190,000. Crossmark Global Holdings Inc. purchased a new stake in ADTRAN during the third quarter worth about $211,000. Finally, Macquarie Group Ltd. purchased a new stake in ADTRAN during the third quarter worth about $227,000. 88.79% of the stock is currently owned by hedge funds and other institutional investors.
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.