BidaskClub cut shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a report released on Wednesday morning.
A number of other analysts have also recently commented on ADTN. Northland Securities restated a buy rating and set a $23.00 target price on shares of ADTRAN in a report on Thursday, January 18th. Jefferies Group restated a hold rating and set a $17.25 target price on shares of ADTRAN in a report on Thursday, January 18th. TheStreet cut shares of ADTRAN from a b rating to a c+ rating in a report on Wednesday, January 17th. ValuEngine cut shares of ADTRAN from a hold rating to a sell rating in a report on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of ADTRAN from a sell rating to a hold rating in a report on Tuesday, March 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $20.32.
Shares of ADTRAN stock opened at $14.70 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 2.19 and a debt-to-equity ratio of 0.05. The firm has a market cap of $697.15 million, a price-to-earnings ratio of 42.79 and a beta of 0.61. ADTRAN has a 12-month low of $14.55 and a 12-month high of $14.77.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, April 17th. The communications equipment provider reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.15). ADTRAN had a net margin of 1.30% and a return on equity of 3.33%. The company had revenue of $120.81 million for the quarter, compared to analysts’ expectations of $126.20 million. During the same period in the previous year, the firm posted $0.14 earnings per share. analysts forecast that ADTRAN will post -0.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Tuesday, May 1st. ADTRAN’s payout ratio is 40.45%.
A number of institutional investors have recently made changes to their positions in ADTN. SG Americas Securities LLC bought a new position in ADTRAN in the 1st quarter worth about $122,000. All Terrain Financial Advisors LLC bought a new position in ADTRAN in the 4th quarter worth about $194,000. Two Sigma Advisers LP bought a new position in ADTRAN in the 4th quarter worth about $199,000. Koch Industries Inc. bought a new position in ADTRAN in the 1st quarter worth about $236,000. Finally, Ramsey Quantitative Systems bought a new position in ADTRAN in the 4th quarter worth about $237,000. Institutional investors own 96.90% of the company’s stock.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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