Wall Street brokerages expect ADTRAN, Inc. (NASDAQ:ADTN) to report sales of $134.25 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for ADTRAN’s earnings, with the lowest sales estimate coming in at $133.50 million and the highest estimate coming in at $135.00 million. ADTRAN posted sales of $126.52 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The firm is expected to issue its next earnings results on Tuesday, January 15th.
According to Zacks, analysts expect that ADTRAN will report full-year sales of $523.40 million for the current fiscal year, with estimates ranging from $522.70 million to $524.10 million. For the next year, analysts forecast that the business will post sales of $566.70 million, with estimates ranging from $558.40 million to $575.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for ADTRAN.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.17. The company had revenue of $140.34 million during the quarter, compared to analyst estimates of $146.00 million. ADTRAN had a negative net margin of 3.94% and a negative return on equity of 2.20%. During the same period in the prior year, the business posted $0.33 EPS.
A number of analysts have recently weighed in on ADTN shares. Bank of America raised shares of ADTRAN from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 13th. ValuEngine raised shares of ADTRAN from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. BidaskClub downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, October 9th. Finally, Northland Securities downgraded shares of ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 target price on the stock. in a report on Wednesday, July 18th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $17.89.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its holdings in shares of ADTRAN by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 102,355 shares of the communications equipment provider’s stock worth $1,517,000 after purchasing an additional 4,017 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of ADTRAN in the 2nd quarter worth approximately $151,000. Victory Capital Management Inc. raised its holdings in shares of ADTRAN by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,064,328 shares of the communications equipment provider’s stock worth $45,505,000 after purchasing an additional 11,178 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of ADTRAN in the 2nd quarter worth approximately $168,000. Finally, Principal Financial Group Inc. raised its holdings in shares of ADTRAN by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 393,648 shares of the communications equipment provider’s stock worth $6,121,000 after purchasing an additional 12,969 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.
Shares of NASDAQ:ADTN opened at $13.92 on Friday. The company has a market capitalization of $654.98 million, a PE ratio of 15.64 and a beta of 0.53. ADTRAN has a twelve month low of $13.05 and a twelve month high of $23.15. The company has a quick ratio of 1.96, a current ratio of 2.82 and a debt-to-equity ratio of 0.06.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.59%. ADTRAN’s payout ratio is currently 40.45%.
ADTRAN Company Profile
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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