ADTRAN, Inc. (NASDAQ:ADTN) Expected to Post Quarterly Sales of $126.20 Million

Analysts expect that ADTRAN, Inc. (NASDAQ:ADTN) will post sales of $126.20 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for ADTRAN’s earnings, with the lowest sales estimate coming in at $125.00 million and the highest estimate coming in at $127.40 million. ADTRAN posted sales of $114.52 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The business is scheduled to report its next earnings report after the market closes on Wednesday, May 5th.

On average, analysts expect that ADTRAN will report full year sales of $559.60 million for the current year, with estimates ranging from $559.20 million to $560.00 million. For the next financial year, analysts forecast that the firm will post sales of $618.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow ADTRAN.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, February 2nd. The communications equipment provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $130.13 million for the quarter, compared to analysts’ expectations of $127.65 million. ADTRAN had a negative net margin of 3.33% and a negative return on equity of 0.30%.

Several research firms have weighed in on ADTN. Jefferies Financial Group boosted their target price on shares of ADTRAN from $20.50 to $26.00 in a research note on Wednesday, April 7th. Zacks Investment Research lowered shares of ADTRAN from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research note on Tuesday, January 5th. Finally, Needham & Company LLC upgraded ADTRAN from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, February 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.75.

Shares of NASDAQ ADTN opened at $17.50 on Tuesday. The business has a 50 day simple moving average of $17.67 and a 200-day simple moving average of $15.51. ADTRAN has a twelve month low of $9.65 and a twelve month high of $19.41. The company has a market capitalization of $848.49 million, a price-to-earnings ratio of -51.47 and a beta of 1.40.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, February 17th. ADTRAN’s payout ratio is -3,600.00%.

Hedge funds have recently modified their holdings of the stock. Aperio Group LLC raised its stake in ADTRAN by 4.4% during the 4th quarter. Aperio Group LLC now owns 27,976 shares of the communications equipment provider’s stock valued at $413,000 after acquiring an additional 1,185 shares in the last quarter. Comerica Bank grew its position in ADTRAN by 1.9% in the 1st quarter. Comerica Bank now owns 63,693 shares of the communications equipment provider’s stock valued at $1,118,000 after buying an additional 1,216 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ADTRAN by 4.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 29,524 shares of the communications equipment provider’s stock worth $436,000 after buying an additional 1,286 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ADTRAN by 45.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,111 shares of the communications equipment provider’s stock valued at $135,000 after acquiring an additional 2,552 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in ADTRAN during the fourth quarter worth approximately $46,000. 88.32% of the stock is owned by institutional investors and hedge funds.

About ADTRAN

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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