ADTRAN, Inc. (NASDAQ:ADTN) Expected to Announce Quarterly Sales of $149.85 Million

Wall Street brokerages predict that ADTRAN, Inc. (NASDAQ:ADTN) will announce $149.85 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for ADTRAN’s earnings. The highest sales estimate is $150.00 million and the lowest is $149.70 million. ADTRAN posted sales of $133.14 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The firm is scheduled to report its next earnings report on Monday, November 1st.

According to Zacks, analysts expect that ADTRAN will report full-year sales of $564.95 million for the current fiscal year, with estimates ranging from $559.20 million to $570.70 million. For the next year, analysts anticipate that the firm will report sales of $634.15 million, with estimates ranging from $618.30 million to $650.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow ADTRAN.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, August 3rd. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.20 million. ADTRAN had a net margin of 3.29% and a return on equity of 6.02%.

A number of analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of ADTRAN from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, August 6th. Cowen raised shares of ADTRAN from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $22.17 to $29.00 in a report on Friday, August 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $22.14.

ADTN traded down $0.06 during trading on Wednesday, reaching $18.77. 156,918 shares of the company’s stock were exchanged, compared to its average volume of 301,501. The company’s fifty day moving average price is $20.82 and its 200-day moving average price is $20.01. ADTRAN has a fifty-two week low of $10.66 and a fifty-two week high of $24.76. The firm has a market capitalization of $911.51 million, a PE ratio of 52.14 and a beta of 1.40.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Thursday, August 19th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 18th. ADTRAN’s dividend payout ratio (DPR) is 225.00%.

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of ADTRAN by 43.7% in the 2nd quarter. Royal Bank of Canada now owns 6,603 shares of the communications equipment provider’s stock valued at $136,000 after buying an additional 2,009 shares during the period. Captrust Financial Advisors grew its holdings in shares of ADTRAN by 118.8% in the 1st quarter. Captrust Financial Advisors now owns 6,773 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 3,678 shares during the period. Homrich & Berg acquired a new position in shares of ADTRAN in the 2nd quarter valued at $205,000. Cubist Systematic Strategies LLC bought a new stake in ADTRAN in the 2nd quarter valued at $208,000. Finally, Envestnet Asset Management Inc. bought a new stake in ADTRAN in the 2nd quarter valued at $221,000. 92.03% of the stock is owned by institutional investors.

ADTRAN Company Profile

ADTRAN, Inc engages in the provision of networking and communications platforms and services focused on the broadband access market. It operates through the Network Solutions and Services and Support business segment. The Network Solutions segment includes hardware products and next-generation virtualized solutions used in service provider or business networks, as well as prior-generation products.

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