ADT (ADT) Trading 9.2% Higher Following Dividend Announcement

ADT Inc (NYSE:ADT)’s share price traded up 9.2% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $8.34 and last traded at $8.10. 4,820,095 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 3,393,166 shares. The stock had previously closed at $7.42.

The newly announced dividend which will be paid on Friday, January 4th. Stockholders of record on Friday, December 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 13th. ADT’s payout ratio is presently -40.00%.

Several equities research analysts have recently commented on the stock. ValuEngine raised shares of ADT from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research raised shares of ADT from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley set a $12.00 price objective on shares of ADT and gave the stock a “buy” rating in a research report on Thursday. Credit Suisse Group started coverage on shares of ADT in a research report on Friday, August 10th. They issued an “outperform” rating and a $12.50 price objective for the company. Finally, Barclays reduced their price objective on shares of ADT from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 9th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. ADT presently has a consensus rating of “Buy” and an average price target of $13.70.

The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $5.54 billion and a PE ratio of -22.43.

ADT (NYSE:ADT) last issued its quarterly earnings data on Wednesday, November 7th. The security and automation business reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.28). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that ADT Inc will post 0.77 EPS for the current year.

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue grew its position in ADT by 178.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,230 shares of the security and automation business’s stock worth $105,000 after purchasing an additional 7,190 shares in the last quarter. Stevens Capital Management LP purchased a new position in ADT in the second quarter valued at about $121,000. American Asset Management Inc. purchased a new position in ADT in the second quarter valued at about $134,000. Wells Fargo & Company MN purchased a new position in ADT in the first quarter valued at about $126,000. Finally, Tower Research Capital LLC TRC purchased a new position in ADT in the second quarter valued at about $168,000. 99.84% of the stock is owned by institutional investors and hedge funds.

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ADT Company Profile (NYSE:ADT)

ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of burglary, video, access control, fire and smoke alarm, and medical alert solutions to residential, commercial, and multi-site customers. The company primarily offers professionally monitored security solutions; and interactive home and business automation solutions that are designed to control access, react to movement, and sense carbon monoxide, flooding, and changes in temperature or other environmental conditions, as well as address personal emergencies, such as injuries, medical emergencies, or incapacitation.

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