ADTRAN (ADTN) Sets New 12-Month Low at $11.92

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Shares of ADTRAN, Inc. (NASDAQ:ADTN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.92 and last traded at $12.33, with a volume of 6023 shares changing hands. The stock had previously closed at $12.54.

Several research firms have issued reports on ADTN. Bank of America raised ADTRAN from an “underperform” rating to a “neutral” rating in a report on Thursday, September 13th. MKM Partners boosted their price target on ADTRAN from $21.00 to $22.00 in a report on Thursday, September 13th. ValuEngine raised ADTRAN from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. BidaskClub lowered ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, October 9th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.89.

The company has a quick ratio of 1.96, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The firm has a market cap of $599.92 million, a PE ratio of 13.48 and a beta of 0.87.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The business had revenue of $140.34 million during the quarter, compared to analyst estimates of $146.00 million. ADTRAN had a negative return on equity of 2.20% and a negative net margin of 3.94%. During the same quarter in the previous year, the company posted $0.33 earnings per share. Equities analysts anticipate that ADTRAN, Inc. will post -0.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, October 30th. ADTRAN’s dividend payout ratio (DPR) is 40.45%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of ADTRAN in the second quarter worth about $151,000. Verition Fund Management LLC bought a new position in shares of ADTRAN in the third quarter worth about $195,000. Dynamic Technology Lab Private Ltd bought a new position in shares of ADTRAN in the third quarter worth about $196,000. SG Americas Securities LLC bought a new position in shares of ADTRAN in the third quarter worth about $224,000. Finally, Virtu Financial LLC bought a new position in shares of ADTRAN in the third quarter worth about $241,000. 94.67% of the stock is owned by hedge funds and other institutional investors.

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ADTRAN Company Profile (NASDAQ:ADTN)

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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