ADTRAN, Inc. (ADTN) to Release Quarterly Earnings on Monday
ADTRAN, Inc. (NASDAQ:ADTN) will issue its quarterly earnings data after the market closes on Monday, October 16th. Analysts expect the company to announce earnings of $0.24 per share for the quarter.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.11. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. The firm had revenue of $184.67 million during the quarter, compared to the consensus estimate of $183.05 million. During the same period last year, the company earned $0.21 earnings per share. On average, analysts expect ADTRAN to post $0.85 EPS for the current fiscal year and $1.02 EPS for the next fiscal year.
Shares of ADTRAN, Inc. (ADTN) opened at 24.20 on Friday. The firm has a 50-day moving average price of $22.97 and a 200-day moving average price of $21.30. The firm has a market cap of $1.16 billion, a P/E ratio of 30.21 and a beta of 0.75. ADTRAN, Inc. has a 12-month low of $17.55 and a 12-month high of $24.60.
In other news, SVP Michael Foliano sold 24,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total transaction of $570,480.00. Following the sale, the senior vice president now directly owns 5,417 shares of the company’s stock, valued at $128,762.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.96% of the stock is owned by insiders.
Several analysts have recently weighed in on the company. Zacks Investment Research lowered ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub upgraded ADTRAN from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Northland Securities restated a “buy” rating and issued a $24.00 price objective on shares of ADTRAN in a report on Tuesday, July 4th. Needham & Company LLC upped their price objective on ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Finally, Cowen and Company restated a “market perform” rating and issued a $18.00 price objective (up previously from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. ADTRAN currently has a consensus rating of “Hold” and a consensus target price of $24.14.
ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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