Shares of ADTRAN, Inc. (NASDAQ:ADTN) have received a consensus rating of “Hold” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.89.
A number of analysts have recently issued reports on ADTN shares. ValuEngine upgraded ADTRAN from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. BidaskClub upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Northland Securities downgraded ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 target price for the company. in a research report on Wednesday, July 18th. Bank of America upgraded ADTRAN from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Finally, MKM Partners boosted their target price on ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th.
Shares of ADTN traded down $0.35 during trading hours on Monday, reaching $14.12. 281,984 shares of the company’s stock traded hands, compared to its average volume of 489,516. The company has a market cap of $682.35 million, a PE ratio of 15.87 and a beta of 0.92. The company has a current ratio of 2.82, a quick ratio of 1.96 and a debt-to-equity ratio of 0.06. ADTRAN has a 12 month low of $13.05 and a 12 month high of $23.15.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.17. The firm had revenue of $140.34 million during the quarter, compared to the consensus estimate of $146.00 million. ADTRAN had a negative return on equity of 2.20% and a negative net margin of 3.94%. During the same quarter last year, the company posted $0.33 EPS. As a group, analysts predict that ADTRAN will post -0.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.55%. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of ADTRAN by 2.7% during the third quarter. BlackRock Inc. now owns 7,123,806 shares of the communications equipment provider’s stock valued at $125,733,000 after buying an additional 189,442 shares during the period. Bank of New York Mellon Corp increased its stake in shares of ADTRAN by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 747,970 shares of the communications equipment provider’s stock valued at $13,202,000 after buying an additional 25,549 shares during the period. Heartland Advisors Inc. increased its stake in shares of ADTRAN by 88.8% during the third quarter. Heartland Advisors Inc. now owns 250,846 shares of the communications equipment provider’s stock valued at $4,427,000 after buying an additional 117,984 shares during the period. Chartwell Investment Partners LLC increased its stake in shares of ADTRAN by 5.3% during the third quarter. Chartwell Investment Partners LLC now owns 87,475 shares of the communications equipment provider’s stock valued at $1,544,000 after buying an additional 4,405 shares during the period. Finally, Zeke Capital Advisors LLC purchased a new stake in ADTRAN in the third quarter worth $267,000. 94.34% of the stock is currently owned by hedge funds and other 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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