Zacks Investment Research Upgrades ATN International (ATNI) to “Buy”
Zacks Investment Research upgraded shares of ATN International (NASDAQ:ATNI) from a hold rating to a buy rating in a report published on Tuesday. They currently have $81.00 target price on the technology company’s stock.
According to Zacks, “ATN International, Inc. invests, own and operate communications companies and renewable energy assets. The company through its operating subsidiaries provide wireless and wireline connectivity to residential and business customers including mobile wireless solutions, local exchange services and broadband internet services; distributed solar electric power to corporate, utility and municipal customers and owner and operator of terrestrial and submarine fiber optic transport systems primarily in the United States and the Caribbean. ATN International Inc., formerly known as Atlantic Tele-Network, Inc., is based in Beverly, United States. “
A number of other research firms have also weighed in on ATNI. BidaskClub upgraded shares of ATN International from a sell rating to a hold rating in a research report on Tuesday. Raymond James lowered shares of ATN International from an outperform rating to a market perform rating and set a $69.00 price target on the stock. in a research report on Friday, July 27th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of ATN International from a sell rating to a hold rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. ATN International has an average rating of Hold and a consensus price target of $66.25.
ATN International (NASDAQ:ATNI) last posted its quarterly earnings results on Wednesday, July 25th. The technology company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.65. The firm had revenue of $117.79 million for the quarter, compared to analyst estimates of $106.01 million. ATN International had a net margin of 4.51% and a return on equity of 3.10%. Equities analysts predict that ATN International will post -0.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 8th. Investors of record on Sunday, September 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. ATN International’s payout ratio is presently 31.19%.
In related news, insider Michael T. Prior sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $72.69, for a total transaction of $145,380.00. Following the transaction, the insider now directly owns 397,624 shares in the company, valued at $28,903,288.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael T. Prior sold 5,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $64.83, for a total transaction of $324,150.00. Following the completion of the transaction, the insider now owns 398,624 shares in the company, valued at $25,842,793.92. The disclosure for this sale can be found here. Insiders own 32.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Eagle Boston Investment Management Inc. boosted its holdings in ATN International by 62.7% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 62,097 shares of the technology company’s stock valued at $3,276,000 after purchasing an additional 23,927 shares during the last quarter. SG Americas Securities LLC boosted its holdings in ATN International by 10.9% in the 2nd quarter. SG Americas Securities LLC now owns 31,549 shares of the technology company’s stock valued at $1,665,000 after purchasing an additional 3,090 shares during the last quarter. Alps Advisors Inc. acquired a new position in ATN International in the 2nd quarter valued at about $475,000. Piedmont Investment Advisors LLC acquired a new position in ATN International in the 2nd quarter valued at about $133,000. Finally, Third Avenue Management LLC acquired a new position in ATN International in the 2nd quarter valued at about $6,072,000. Institutional investors own 65.91% of the company’s stock.
About ATN International
ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, Bermuda, and the Caribbean. It operates through U.S. Telecom, International Telecom, and Renewable Energy segments. The company offers wholesale wireless voice and data roaming services; wireline local telephone and data, video, and long-distance voice services; and facilities-based integrated voice and data communications, and wholesale transport services to enterprise and residential customers.
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