ADTRAN (NASDAQ:ADTN – Get Rating) released its earnings results on Wednesday. The communications equipment provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07, Fidelity Earnings reports. ADTRAN had a negative net margin of 1.81% and a positive return on equity of 4.27%. During the same quarter last year, the business earned $0.14 EPS.
ADTRAN Price Performance
Shares of ADTN stock traded up $0.74 during trading hours on Friday, hitting $23.84. The stock had a trading volume of 608,429 shares, compared to its average volume of 634,230. The firm has a market capitalization of $1.18 billion, a PE ratio of -108.36 and a beta of 1.37. ADTRAN has a twelve month low of $16.30 and a twelve month high of $25.29. The stock’s 50 day moving average is $20.13 and its 200 day moving average is $19.32.
ADTRAN Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, August 17th. ADTRAN’s payout ratio is currently -163.64%.
Institutional Investors Weigh In On ADTRAN
Wall Street Analyst Weigh In
ADTN has been the topic of several recent analyst reports. Needham & Company LLC initiated coverage on shares of ADTRAN in a research note on Thursday, July 14th. They issued a “buy” rating and a $28.00 price target on the stock. Rosenblatt Securities increased their price target on shares of ADTRAN from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.17.
ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.
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