Shares of ADTRAN, Inc. (NASDAQ:ADTN) have been given an average rating of “Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $20.67.
A number of equities analysts have recently commented on ADTN shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $20.00 price target on shares of ADTRAN in a report on Monday, May 24th. Argus raised ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, May 14th. Finally, Jefferies Financial Group lifted their target price on ADTRAN from $20.50 to $26.00 in a report on Wednesday, April 7th.
Several large investors have recently added to or reduced their stakes in ADTN. Warren Averett Asset Management LLC grew its holdings in shares of ADTRAN by 1.5% during the first quarter. Warren Averett Asset Management LLC now owns 59,574 shares of the communications equipment provider’s stock worth $1,180,000 after purchasing an additional 852 shares in the last quarter. Principal Financial Group Inc. lifted its position in ADTRAN by 0.7% during the first quarter. Principal Financial Group Inc. now owns 332,229 shares of the communications equipment provider’s stock valued at $5,542,000 after purchasing an additional 2,331 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in ADTRAN by 51.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 13,547 shares of the communications equipment provider’s stock worth $226,000 after buying an additional 4,600 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of ADTRAN in the 1st quarter worth $2,734,000. Finally, Harvey Partners LLC raised its position in shares of ADTRAN by 5.6% during the 1st quarter. Harvey Partners LLC now owns 169,000 shares of the communications equipment provider’s stock valued at $2,819,000 after buying an additional 9,000 shares in the last quarter. 91.66% of the stock is currently owned by hedge funds and other institutional investors.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, May 4th. The communications equipment provider reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.09. ADTRAN had a net margin of 2.55% and a return on equity of 4.32%. The company had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $126.20 million. Analysts anticipate that ADTRAN will post 0.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Thursday, May 20th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Wednesday, May 19th. ADTRAN’s payout ratio is 225.00%.
ADTRAN Company Profile
ADTRAN, Inc provides networking and communications platforms and services for service providers, cable/multiple system operators, small- to medium-sized business, and distributed enterprises in the United States, Germany, Mexico, and internationally. The company operates through two segments, Network Solutions, and Services & Support.
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