ADTRAN, Inc. (NASDAQ:ADTN) released its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.13, Bloomberg Earnings reports. The firm had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%.
ADTRAN (NASDAQ:ADTN) opened at 21.40 on Friday. ADTRAN has a 12-month low of $17.55 and a 12-month high of $25.10. The stock has a market cap of $1.02 billion, a PE ratio of 24.32 and a beta of 0.75. The company’s 50-day moving average price is $23.01 and its 200-day moving average price is $21.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, October 31st. ADTRAN’s payout ratio is currently 40.45%.
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Several equities analysts have recently weighed in on ADTN shares. Northland Securities reissued a “buy” rating and set a $24.00 target price on shares of ADTRAN in a research report on Tuesday, July 4th. Needham & Company LLC boosted their target price on ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Friday, July 21st. Cowen and Company reissued a “market perform” rating and set a $18.00 target price (up previously from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd. Finally, BidaskClub downgraded ADTRAN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. 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 stock presently has an average rating of “Hold” and a consensus target price of $24.29.
In other news, SVP Kevin P. Heering sold 9,809 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the sale, the senior vice president now directly owns 10,162 shares in the company, valued at approximately $219,499.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Raymond R. Schansman sold 48,056 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $21.70, for a total value of $1,042,815.20. Following the sale, the senior vice president now owns 11,658 shares of the company’s stock, valued at $252,978.60. The disclosure for this sale can be found here. Corporate insiders own 2.96% of the company’s stock.
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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