ATN International, Inc. (NASDAQ:ATNI) Plans Quarterly Dividend of $0.24

ATN International, Inc. (NASDAQ:ATNI) declared a quarterly dividend on Tuesday, June 18th, investing.com reports. Stockholders of record on Sunday, June 30th will be given a dividend of 0.24 per share by the technology company on Wednesday, July 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, June 28th.

ATN International has raised its dividend payment by an average of 8.6% per year over the last three years. ATN International has a payout ratio of 177.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect ATN International to earn $0.54 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 177.8%.

ATN International Stock Up 0.1 %

ATNI traded up $0.02 on Wednesday, hitting $22.16. The company had a trading volume of 24,599 shares, compared to its average volume of 132,550. The stock has a fifty day moving average price of $23.46 and a 200-day moving average price of $30.51. ATN International has a 12-month low of $18.20 and a 12-month high of $39.88. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.06 and a quick ratio of 1.00.

ATN International (NASDAQ:ATNI) last posted its earnings results on Wednesday, April 24th. The technology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.34). ATN International had a negative net margin of 1.96% and a negative return on equity of 1.17%. The company had revenue of $186.79 million during the quarter, compared to analysts’ expectations of $191.73 million. On average, equities research analysts forecast that ATN International will post -0.68 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James restated a “strong-buy” rating and set a $32.00 price target (down previously from $40.00) on shares of ATN International in a research note on Friday, April 26th. BWS Financial reaffirmed a “buy” rating and set a $30.00 target price on shares of ATN International in a report on Monday, April 29th.

Insider Buying and Selling

In related news, Chairman Michael T. Prior purchased 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $19.88 per share, with a total value of $198,800.00. Following the completion of the acquisition, the chairman now owns 523,026 shares of the company’s stock, valued at approximately $10,397,756.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.54% of the company’s stock.

ATN International Company Profile

ATN International, Inc, through its subsidiaries, engages in the provision of digital infrastructure and communications services to residential, business, and government customers in the United States and internationally. The company operates through International Telecom and US Telecom segments. The company offers mobile, data, voice, broadband, and fixed services; handsets and accessories; and wholesale roaming, long distance voice services, and site maintenance services.