Brokerages predict that ADTRAN, Inc. (NASDAQ:ADTN) will announce sales of $134.25 million for the current quarter, Zacks reports. Two analysts have issued estimates for ADTRAN’s earnings, with the highest sales estimate coming in at $135.00 million and the lowest estimate coming in at $133.50 million. ADTRAN posted sales of $126.52 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, January 23rd.

On average, analysts expect that ADTRAN will report full year sales of $523.40 million for the current fiscal year, with estimates ranging from $522.70 million to $524.10 million. For the next fiscal year, analysts forecast that the firm will report sales of $566.70 million, with estimates ranging from $558.40 million to $575.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for ADTRAN.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The firm had revenue of $140.34 million for the quarter, compared to the consensus estimate of $146.00 million. ADTRAN had a negative net margin of 3.94% and a negative return on equity of 2.20%. During the same period last year, the firm posted $0.33 earnings per share.

ADTN has been the topic of a number of analyst reports. ValuEngine downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. BidaskClub raised shares of ADTRAN from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Northland Securities set a $24.00 target price on shares of ADTRAN and gave the stock a “buy” rating in a research note on Thursday, December 20th. MKM Partners reduced their target price on shares of ADTRAN to $17.00 and set a “buy” rating on the stock in a research note on Thursday, December 20th. Finally, Needham & Company LLC reduced their target price on shares of ADTRAN from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, October 18th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $17.38.

Shares of NASDAQ:ADTN traded down $0.13 during midday trading on Friday, hitting $11.65. The company’s stock had a trading volume of 15,034 shares, compared to its average volume of 386,650. The company has a current ratio of 2.82, a quick ratio of 1.96 and a debt-to-equity ratio of 0.06. The company has a market cap of $568.94 million, a P/E ratio of 13.09 and a beta of 0.93. ADTRAN has a 12-month low of $10.21 and a 12-month high of $20.45.

Several institutional investors have recently added to or reduced their stakes in ADTN. Verition Fund Management LLC purchased a new stake in shares of ADTRAN in the 3rd quarter valued at approximately $195,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of ADTRAN in the 3rd quarter valued at approximately $196,000. SG Americas Securities LLC purchased a new stake in shares of ADTRAN in the 3rd quarter valued at approximately $224,000. Virtu Financial LLC purchased a new stake in shares of ADTRAN in the 3rd quarter valued at approximately $241,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of ADTRAN in the 3rd quarter valued at approximately $267,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Company Profile

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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