ATN International (NASDAQ:ATNI) Announces Earnings Results, Beats Expectations By $0.90 EPS

ATN International (NASDAQ:ATNI – Get Free Report) posted its earnings results on Wednesday. The technology company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.90, FiscalAI reports. ATN International had a net margin of 22.55% and a negative return on equity of 9.46%. The business had revenue of $183.24 million for the quarter, compared to analyst estimates of $184.90 million.

ATN International Trading Up 1.1%

Shares of NASDAQ:ATNI traded up $0.29 on Wednesday, reaching $25.79. 117,768 shares of the company traded hands, compared to its average volume of 83,247. The business’s 50-day simple moving average is $28.04 and its 200 day simple moving average is $27.01. ATN International has a 52 week low of $14.15 and a 52 week high of $33.41. The stock has a market capitalization of $397.17 million, a P/E ratio of 2.51, a price-to-earnings-growth ratio of 3.27 and a beta of 0.73. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68.

ATN International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Saturday, October 3rd were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $1.16 annualized dividend and a yield of 4.5%. ATN International’s payout ratio is currently 11.28%.

Insider Buying and Selling

In other news, Director Patricia Jacobs sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $30.04, for a total value of $45,060.00. Following the transaction, the director owned 19,958 shares in the company, valued at approximately $599,538.32. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cornelius Prior, Jr. sold 10,000 shares of ATN International stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $31.86, for a total transaction of $318,600.00. Following the completion of the transaction, the insider directly owned 47,665 shares in the company, valued at approximately $1,518,606.90. The trade was a 17.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,638 shares of company stock worth $1,778,513 over the last ninety days. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen cut ATN International from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 20th. Weiss Ratings raised ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Finally, Zacks Research upgraded shares of ATN International from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Check Out Our Latest Analysis on ATNI

ATN International Company Profile

(Get Free Report)

ATN International, Inc is a telecommunications company that provides wireless, broadband, wireline, and related communications services. Through its operating businesses, the company offers mobile voice and data, internet access, fixed-line telephone service, video, enterprise connectivity, and managed network solutions.

ATN focuses on serving rural, remote, and underserved communities where communications infrastructure may be limited. Its operations have included wireless and broadband networks in the United States, as well as telecommunications businesses in international markets such as Bermuda and the Caribbean.

The company was founded in 1987 and was formerly known as Atlantic Tele-Network, Inc It adopted the name ATN International to reflect the broader scope of its telecommunications operations.

Further Reading

Earnings History for ATN International (NASDAQ:ATNI)

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