Wall Street analysts predict that ADTRAN, Inc. (NASDAQ:ADTN) will report $140.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for ADTRAN’s earnings, with the highest sales estimate coming in at $141.00 million and the lowest estimate coming in at $140.10 million. ADTRAN posted sales of $120.81 million during the same quarter last year, which suggests a positive year over year growth rate of 16.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, April 16th.
According to Zacks, analysts expect that ADTRAN will report full year sales of $592.90 million for the current financial year, with estimates ranging from $585.80 million to $600.00 million. For the next year, analysts expect that the company will post sales of $598.80 million. Zacks’ sales calculations are an average based on a survey of research firms that cover ADTRAN.
ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Wednesday, January 23rd. The communications equipment provider reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.08). ADTRAN had a negative return on equity of 4.42% and a negative net margin of 3.34%. The company had revenue of $140.09 million during the quarter, compared to analysts’ expectations of $134.25 million.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub lowered shares of ADTRAN from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Needham & Company LLC lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Northland Securities set a $24.00 price objective on shares of ADTRAN and gave the stock a “buy” rating in a report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. ADTRAN currently has an average rating of “Hold” and a consensus price target of $17.50.
Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new stake in ADTRAN during the 4th quarter valued at $59,000. Public Employees Retirement System of Ohio raised its holdings in ADTRAN by 11.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,876 shares of the communications equipment provider’s stock valued at $74,000 after buying an additional 726 shares during the last quarter. Verition Fund Management LLC bought a new stake in ADTRAN during the 3rd quarter valued at $195,000. Dynamic Technology Lab Private Ltd bought a new stake in ADTRAN during the 3rd quarter valued at $196,000. Finally, SG Americas Securities LLC bought a new stake in ADTRAN during the 3rd quarter valued at $224,000. Hedge funds and other institutional investors own 92.91% of the company’s stock.
ADTN stock traded down $0.07 during midday trading on Thursday, reaching $13.95. The company had a trading volume of 145,259 shares, compared to its average volume of 374,662. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.17. ADTRAN has a 1 year low of $10.21 and a 1 year high of $19.30. The stock has a market cap of $677.00 million, a PE ratio of -29.68 and a beta of 1.27.
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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