Wall Street analysts forecast that ADTRAN, Inc. (NASDAQ:ADTN) will announce sales of $158.70 million for the current quarter, Zacks reports. Two analysts have issued estimates for ADTRAN’s earnings. The highest sales estimate is $160.00 million and the lowest is $157.40 million. ADTRAN reported sales of $140.34 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.1%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 15th.
On average, analysts expect that ADTRAN will report full-year sales of $609.50 million for the current fiscal year, with estimates ranging from $609.00 million to $610.00 million. For the next year, analysts forecast that the firm will report sales of $624.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover ADTRAN.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, April 17th. The communications equipment provider reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.19. ADTRAN had a return on equity of 2.34% and a net margin of 0.85%. The company had revenue of $143.79 million for the quarter, compared to analyst estimates of $140.55 million.
Several research analysts recently weighed in on ADTN shares. ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a research note on Friday. MKM Partners decreased their target price on ADTRAN to $17.00 and set a “buy” rating for the company in a research note on Friday. Zacks Investment Research cut Horiba from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Cowen set a $75.00 price target on Baxter International and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $18.80.
In related news, VP Roger D. Shannon sold 5,701 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $17.65, for a total value of $100,622.65. Following the completion of the transaction, the vice president now owns 19,009 shares in the company, valued at approximately $335,508.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.52% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC boosted its position in ADTRAN by 75.3% during the 1st quarter. Massey Quick Simon & CO. LLC now owns 11,084 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 4,761 shares during the period. Rhumbline Advisers boosted its position in ADTRAN by 1.6% during the 1st quarter. Rhumbline Advisers now owns 144,801 shares of the communications equipment provider’s stock worth $1,984,000 after acquiring an additional 2,273 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in ADTRAN during the 4th quarter worth about $145,000. Millennium Management LLC boosted its position in ADTRAN by 77.6% during the 4th quarter. Millennium Management LLC now owns 352,870 shares of the communications equipment provider’s stock worth $3,790,000 after acquiring an additional 154,189 shares during the period. Finally, Legal & General Group Plc boosted its position in ADTRAN by 6.9% during the 4th quarter. Legal & General Group Plc now owns 119,698 shares of the communications equipment provider’s stock worth $1,288,000 after acquiring an additional 7,749 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.
ADTN stock traded down $0.60 during trading hours on Friday, hitting $11.53. 1,167,329 shares of the stock traded hands, compared to its average volume of 411,940. The firm has a 50-day moving average of $15.69. ADTRAN has a one year low of $10.21 and a one year high of $19.30. The firm has a market capitalization of $551.24 million, a P/E ratio of -24.53, a P/E/G ratio of 10.64 and a beta of 1.25.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.09 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.12%. ADTRAN’s dividend payout ratio (DPR) is -76.60%.
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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