ADTRAN, Inc. (NASDAQ:ADTN) declared a quarterly dividend on Tuesday, October 17th, RTT News reports. Shareholders of record on Wednesday, November 1st will be paid a dividend of 0.09 per share by the communications equipment provider on Wednesday, November 15th. This represents a $0.36 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, October 31st.
Shares of ADTRAN (NASDAQ:ADTN) traded down 1.18% on Thursday, hitting $21.00. The stock had a trading volume of 436,781 shares. ADTRAN has a 1-year low of $17.55 and a 1-year high of $25.10. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 23.86 and a beta of 0.75. The firm has a 50 day moving average of $23.01 and a 200-day moving average of $21.42.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.13. The business had revenue of $185.11 million during the quarter, compared to analyst estimates of $185.43 million. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. Equities analysts predict that ADTRAN will post $0.86 earnings per share for the current year.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of ADTRAN from a “strong-buy” rating to a “hold” rating in a research report on Monday. Northland Securities set a $28.00 price target on shares of ADTRAN and gave the company 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 lifted their target price on shares of ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $18.00 target price (up previously 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, three have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.29.
In other news, SVP Kevin P. Heering sold 9,809 shares of ADTRAN stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the transaction, the senior vice president now owns 10,162 shares in the company, valued at approximately $219,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Raymond R. Schansman sold 48,056 shares of ADTRAN stock in a transaction on 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 transaction, the senior vice president now owns 11,658 shares in the company, valued at approximately $252,978.60. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.
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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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