Q2 2018 EPS Estimates for ADTRAN, Inc. (ADTN) Reduced by Analyst

ADTRAN, Inc. (NASDAQ:ADTN) – Jefferies Group lowered their Q2 2018 earnings estimates for ADTRAN in a report issued on Wednesday. Jefferies Group analyst G. Notter now forecasts that the communications equipment provider will post earnings of $0.23 per share for the quarter, down from their previous estimate of $0.27. Jefferies Group currently has a “Hold” rating and a $17.25 target price on the stock. Jefferies Group also issued estimates for ADTRAN’s Q4 2018 earnings at $0.22 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.28 EPS and Q4 2019 earnings at $0.17 EPS.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business had revenue of $126.52 million during the quarter, compared to analyst estimates of $125.90 million. ADTRAN had a net margin of 3.58% and a return on equity of 7.95%.

Several other equities analysts have also commented on ADTN. Northland Securities reaffirmed a “buy” rating and issued a $23.00 price objective on shares of ADTRAN in a research report on Thursday. TheStreet lowered shares of ADTRAN from a “b” rating to a “c+” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective (down from $26.00) on shares of ADTRAN in a research report on Friday, January 12th. BidaskClub lowered shares of ADTRAN from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, Goldman Sachs Group raised shares of ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 price objective for the company in a research report on Monday, January 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. ADTRAN presently has a consensus rating of “Hold” and an average price target of $21.41.

ADTRAN (ADTN) opened at $16.40 on Friday. The company has a market cap of $802.89, a P/E ratio of 32.80, a P/E/G ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.98 and a quick ratio of 2.43. ADTRAN has a 1 year low of $16.25 and a 1 year high of $25.10.

A number of institutional investors and hedge funds have recently bought and sold shares of ADTN. Renaissance Technologies LLC raised its position in ADTRAN by 25.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock worth $33,456,000 after buying an additional 328,600 shares during the last quarter. Northern Trust Corp raised its position in ADTRAN by 37.1% during the 2nd quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock worth $18,886,000 after buying an additional 247,413 shares during the last quarter. FMR LLC raised its position in ADTRAN by 167.6% during the 2nd quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock worth $8,070,000 after buying an additional 244,770 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of ADTRAN by 56.0% during the 3rd quarter. Prudential Financial Inc. now owns 434,901 shares of the communications equipment provider’s stock worth $10,438,000 after purchasing an additional 156,030 shares during the period. Finally, Citadel Advisors LLC grew its stake in shares of ADTRAN by 226.6% during the 2nd quarter. Citadel Advisors LLC now owns 213,327 shares of the communications equipment provider’s stock worth $4,405,000 after purchasing an additional 148,003 shares during the period. 91.37% of the stock is owned by institutional investors.

In other ADTRAN news, SVP Kevin P. Heering sold 9,809 shares of the firm’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 transaction of $211,874.40. Following the completion of the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.96% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, January 30th. ADTRAN’s dividend payout ratio is presently 72.00%.

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About ADTRAN

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.

Earnings History and Estimates for ADTRAN (NASDAQ:ADTN)

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