ADTRAN, Inc. (NASDAQ:ADTN) Announces Quarterly Dividend of $0.09

ADTRAN, Inc. (NASDAQ:ADTN) declared a quarterly dividend on Tuesday, July 18th, RTT News reports. Shareholders of record on Thursday, August 3rd will be paid a dividend of 0.09 per share by the communications equipment provider on Thursday, August 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, August 1st.

ADTRAN (ADTN) opened at 21.80 on Friday. The firm has a market capitalization of $1.04 billion, a PE ratio of 27.22 and a beta of 0.65. ADTRAN has a 12 month low of $17.55 and a 12 month high of $24.05. The firm’s 50-day moving average is $21.69 and its 200-day moving average is $20.93.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $183.05 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, equities research analysts expect that ADTRAN will post $0.81 EPS for the current year.

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Several equities analysts have commented on ADTN shares. Needham & Company LLC increased their price target on ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Northland Securities reiterated a “buy” rating and set a $24.00 price target on shares of ADTRAN in a report on Tuesday, July 4th. MKM Partners reiterated a “buy” rating and set a $26.50 price target (down previously from $27.50) on shares of ADTRAN in a report on Monday, April 24th. Argus raised ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, April 20th. Finally, Cowen and Company reissued a “market perform” rating and issued a $18.00 price objective (up from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.57.

In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the 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 completion of the transaction, the senior vice president now directly owns 5,417 shares in the company, valued at $128,762.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.96% of the company’s stock.

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.

Dividend History for ADTRAN (NASDAQ:ADTN)

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