BidaskClub Downgrades ADTRAN (ADTN) to Hold

BidaskClub cut shares of ADTRAN (NASDAQ:ADTN) from a buy rating to a hold rating in a research note published on Wednesday.

ADTN has been the subject of several other research reports. Bank of America raised shares of ADTRAN from an underperform rating to a neutral rating in a research note on Thursday, September 13th. ValuEngine raised shares of ADTRAN from a sell rating to a hold rating in a research note on Saturday, July 14th. MKM Partners lifted their price objective on shares of ADTRAN from $21.00 to $22.00 in a research note on Thursday, September 13th. Needham & Company LLC reduced their price objective on shares of ADTRAN from $18.00 to $17.00 and set a buy rating for the company in a research note on Thursday, October 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of ADTRAN from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Tuesday, October 9th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $17.89.

ADTN stock opened at $13.54 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.96 and a current ratio of 2.82. ADTRAN has a 1 year low of $13.05 and a 1 year high of $23.15.



ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.17. ADTRAN had a negative net margin of 3.94% and a negative return on equity of 2.20%. The business had revenue of $140.34 million during the quarter, compared to analyst estimates of $146.00 million. During the same quarter in the previous year, the business earned $0.33 EPS. On average, equities analysts predict that ADTRAN will post -0.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Tuesday, October 30th. ADTRAN’s dividend payout ratio is 40.45%.

Institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in ADTRAN during the 2nd quarter worth $151,000. Xact Kapitalforvaltning AB acquired a new position in ADTRAN during the 2nd quarter worth $168,000. Raymond James & Associates acquired a new position in ADTRAN during the 2nd quarter worth $272,000. First Trust Advisors LP acquired a new position in ADTRAN during the 3rd quarter worth $367,000. Finally, Alps Advisors Inc. acquired a new position in ADTRAN during the 2nd quarter worth $407,000. 95.08% of the stock is owned by hedge funds and other institutional investors.

About ADTRAN

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.

Recommended Story: What is Considered a Good Return on Equity (ROE)?

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply