ATN International (ATNI) Downgraded by BidaskClub

BidaskClub cut shares of ATN International (NASDAQ:ATNI) from a hold rating to a sell rating in a research report released on Tuesday morning, BidAskClub reports.

Several other brokerages also recently issued reports on ATNI. Zacks Investment Research downgraded ATN International from a strong-buy rating to a hold rating in a research report on Thursday, December 27th. ValuEngine cut shares of ATN International from a buy rating to a hold rating in a research note on Friday, February 22nd. Raymond James raised shares of ATN International from a market perform rating to an outperform rating and set a $67.00 target price for the company in a research note on Friday, February 22nd. Finally, Maxim Group raised shares of ATN International from a hold rating to a buy rating and set a $73.00 target price for the company in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $66.50.

Shares of ATN International stock opened at $58.44 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.96 and a quick ratio of 1.92. ATN International has a 1 year low of $49.34 and a 1 year high of $88.78. The company has a market cap of $939.40 million, a P/E ratio of 45.30 and a beta of 0.37.

ATN International (NASDAQ:ATNI) last issued its quarterly earnings data on Wednesday, February 20th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.14. ATN International had a return on equity of 2.50% and a net margin of 4.39%. The firm had revenue of $107.81 million during the quarter, compared to the consensus estimate of $108.31 million.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. ATN International’s dividend payout ratio is presently 52.71%.

In other news, CFO Justin D. Benincasa sold 3,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $72.01, for a total transaction of $216,030.00. Following the completion of the sale, the chief financial officer now directly owns 51,870 shares of the company’s stock, valued at approximately $3,735,158.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 32.80% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in ATN International by 6.2% in the 4th quarter. Arizona State Retirement System now owns 16,718 shares of the technology company’s stock worth $1,196,000 after buying an additional 978 shares in the last quarter. SG Americas Securities LLC lifted its holdings in ATN International by 9.0% in the 4th quarter. SG Americas Securities LLC now owns 35,176 shares of the technology company’s stock worth $2,516,000 after buying an additional 2,908 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in ATN International by 886.1% in the 4th quarter. Acadian Asset Management LLC now owns 42,718 shares of the technology company’s stock worth $3,057,000 after buying an additional 38,386 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in ATN International by 381.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,662 shares of the technology company’s stock worth $262,000 after buying an additional 2,901 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in ATN International in the 4th quarter worth $209,000. Hedge funds and other institutional investors own 63.89% of the company’s stock.

About ATN International

ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, India, Bermuda, and the Caribbean. It operates through three segments: U.S. Telecom, International Telecom, and Renewable Energy. The U.S. Telecom segment offers wireless and wireline services; wholesale wireless voice and data roaming services to wireless carriers principally in the Southwest and Midwest the United States; and retail wireless, wireline, and wholesale long-distance voice services to telecommunications carriers.

Further Reading: What is the Quick Ratio?

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