Wall Street brokerages forecast that ADTRAN, Inc. (NASDAQ:ADTN) will announce sales of $146.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for ADTRAN’s earnings. ADTRAN posted sales of $185.11 million in the same quarter last year, which suggests a negative year over year growth rate of 21.1%. The business is expected to report its next earnings results on Tuesday, October 16th.
On average, analysts expect that ADTRAN will report full-year sales of $535.60 million for the current financial year, with estimates ranging from $534.40 million to $536.80 million. For the next financial year, analysts expect that the firm will post sales of $585.50 million per share, with estimates ranging from $571.00 million to $600.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for ADTRAN.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, July 17th. The communications equipment provider reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.15. ADTRAN had a negative return on equity of 0.56% and a negative net margin of 2.15%. The business had revenue of $128.05 million for the quarter, compared to the consensus estimate of $127.80 million. During the same period last year, the business earned $0.26 EPS.
ADTN has been the topic of several recent analyst reports. BidaskClub downgraded ADTRAN from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. ValuEngine downgraded ADTRAN from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Finally, Northland Securities downgraded ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 price target on the stock. in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. ADTRAN currently has an average rating of “Hold” and a consensus target price of $19.46.
Shares of ADTN stock opened at $16.95 on Thursday. The company has a current ratio of 2.93, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06. ADTRAN has a twelve month low of $13.95 and a twelve month high of $25.10. The company has a market capitalization of $821.11 million, a P/E ratio of 19.04 and a beta of 0.58.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.12%. The ex-dividend date was Tuesday, July 31st. ADTRAN’s dividend payout ratio is currently 40.45%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. increased its position in ADTRAN by 32.6% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,795,330 shares of the communications equipment provider’s stock worth $41,511,000 after buying an additional 686,488 shares during the period. Van Berkom & Associates Inc. increased its position in shares of ADTRAN by 4.0% during the first quarter. Van Berkom & Associates Inc. now owns 2,068,256 shares of the communications equipment provider’s stock valued at $32,161,000 after purchasing an additional 78,847 shares during the period. Alps Advisors Inc. bought a new stake in shares of ADTRAN during the second quarter valued at approximately $407,000. Victory Capital Management Inc. increased its position in shares of ADTRAN by 0.4% during the second quarter. Victory Capital Management Inc. now owns 3,064,328 shares of the communications equipment provider’s stock valued at $45,505,000 after purchasing an additional 11,178 shares during the period. Finally, Royal Bank of Canada increased its position in shares of ADTRAN by 5,939.2% during the first quarter. Royal Bank of Canada now owns 60,392 shares of the communications equipment provider’s stock valued at $939,000 after purchasing an additional 59,392 shares during the period. 95.14% of the stock is currently owned by institutional investors.
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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