ADTRAN (ADTN) Releases Quarterly Earnings Results
ADTRAN (NASDAQ:ADTN) announced its earnings results on Tuesday. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04, Bloomberg Earnings reports. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. The business had revenue of $126.52 million during the quarter, compared to analyst estimates of $125.90 million.
Shares of ADTRAN (ADTN) traded down $0.65 during midday trading on Thursday, hitting $18.85. The company had a trading volume of 1,084,900 shares, compared to its average volume of 556,591. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $938.92, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. ADTRAN has a 12-month low of $18.60 and a 12-month high of $25.10.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.91%. ADTRAN’s payout ratio is 40.45%.
In related news, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total value of $211,874.40. Following the completion of the transaction, the senior vice president now owns 10,162 shares of the company’s stock, valued at $219,499.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the completion of the transaction, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at approximately $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2018/01/18/adtran-adtn-releases-quarterly-earnings-results.html.
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.
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.