ADT (ADT) Stock Price Up 9.2% After Dividend Announcement

Shares of ADT Inc (NYSE:ADT) rose 9.2% on Thursday following a dividend announcement from the company. The company traded as high as $8.34 and last traded at $8.10. Approximately 4,820,095 shares changed hands during mid-day trading, an increase of 42% from the average daily volume of 3,393,166 shares. The stock had previously closed at $7.42.

The newly announced dividend which will be paid on Friday, January 4th. Investors of record on Friday, December 14th will be given a dividend of $0.035 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 1.73%. ADT’s dividend payout ratio (DPR) is -40.00%.

ADT has been the subject of a number of research reports. Barclays decreased their price target on shares of ADT from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 9th. Credit Suisse Group initiated coverage on shares of ADT in a research report on Friday, August 10th. They set an “outperform” rating and a $12.50 price target for the company. Zacks Investment Research cut shares of ADT from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Finally, Deutsche Bank initiated coverage on shares of ADT in a research report on Monday, October 1st. They set a “hold” rating and a $11.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.70.

The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $5.54 billion and a P/E ratio of -23.14.

ADT (NYSE:ADT) last issued its quarterly earnings data on Wednesday, November 7th. The security and automation business reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.28). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company earned ($0.09) EPS. ADT’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts expect that ADT Inc will post 0.77 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in ADT by 178.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,230 shares of the security and automation business’s stock worth $105,000 after buying an additional 7,190 shares in the last quarter. Stevens Capital Management LP acquired a new position in ADT in the 2nd quarter worth $121,000. Wells Fargo & Company MN acquired a new position in ADT in the 1st quarter worth $126,000. American Asset Management Inc. acquired a new position in ADT in the 2nd quarter worth $134,000. Finally, Tower Research Capital LLC TRC acquired a new position in ADT in the 2nd quarter worth $168,000. Hedge funds and other institutional investors own 99.84% of the company’s stock.

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ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of burglary, video, access control, fire and smoke alarm, and medical alert solutions to residential, commercial, and multi-site customers. The company primarily offers professionally monitored security solutions; and interactive home and business automation solutions that are designed to control access, react to movement, and sense carbon monoxide, flooding, and changes in temperature or other environmental conditions, as well as address personal emergencies, such as injuries, medical emergencies, or incapacitation.

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