ADTRAN, Inc. Plans Quarterly Dividend of $0.09 (NASDAQ:ADTN)

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.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2017/10/26/adtran-inc-adtn-announces-quarterly-dividend-of-0-09.html.

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.

Dividend History for ADTRAN (NASDAQ:ADTN)

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.

Leave a Reply