Adtran Inc. (ADTN) Scheduled to Post Quarterly Earnings on Tuesday
Adtran Inc. (NASDAQ:ADTN) is set to announce its Q316 earnings results on Tuesday, October 18th. Analysts expect the company to announce earnings of $0.23 per share and revenue of $110.31 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.
Adtran Inc. (NASDAQ:ADTN) opened at 18.22 on Friday. The company has a 50 day moving average of $18.76 and a 200-day moving average of $18.80. Adtran Inc. has a one year low of $13.92 and a one year high of $21.43. The firm has a market cap of $881.81 million, a PE ratio of 32.30 and a beta of 0.95.
A number of large investors have recently bought and sold shares of ADTN. BlackRock Inc. raised its stake in Adtran by 115.0% in the second quarter. BlackRock Inc. now owns 7,917 shares of the company’s stock valued at $148,000 after buying an additional 4,235 shares during the period. Profund Advisors LLC raised its stake in Adtran by 3.3% in the second quarter. Profund Advisors LLC now owns 15,992 shares of the company’s stock valued at $298,000 after buying an additional 516 shares during the period. Menta Capital LLC bought a new stake in Adtran during the second quarter valued at $397,000. Guggenheim Capital LLC raised its stake in Adtran by 47.7% in the second quarter. Guggenheim Capital LLC now owns 23,181 shares of the company’s stock valued at $432,000 after buying an additional 7,486 shares during the period. Finally, BlackRock Advisors LLC raised its stake in Adtran by 5.1% in the second quarter. BlackRock Advisors LLC now owns 23,676 shares of the company’s stock valued at $442,000 after buying an additional 1,143 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.
Several equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Adtran in a research note on Thursday, July 14th. MKM Partners reaffirmed a “buy” rating and set a $24.00 price target on shares of Adtran in a research note on Sunday, July 17th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.05.
Adtran Company Profile
ADTRAN, Inc 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: the Carrier Networks Division and the Enterprise Networks Division. Its Carrier Networks Division supplies the network access products, services and supports that service providers require to connect their customers to transmission and switching networks.
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