ADTRAN, Inc. (NASDAQ:ADTN) Expected to Post Quarterly Sales of $112.70 Million

Equities research analysts expect ADTRAN, Inc. (NASDAQ:ADTN) to report $112.70 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for ADTRAN’s earnings. The lowest sales estimate is $112.00 million and the highest is $113.40 million. ADTRAN reported sales of $140.09 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 19.6%. The firm is expected to issue its next earnings results on Wednesday, January 22nd.

According to Zacks, analysts expect that ADTRAN will report full-year sales of $526.95 million for the current fiscal year, with estimates ranging from $526.20 million to $527.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $491.15 million, with estimates ranging from $475.00 million to $507.30 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover ADTRAN.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Wednesday, October 30th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). ADTRAN had a negative return on equity of 0.57% and a negative net margin of 8.79%. The business had revenue of $114.09 million for the quarter, compared to analysts’ expectations of $114.00 million.

ADTN has been the subject of several research analyst reports. MKM Partners cut ADTRAN from a “buy” rating to a “neutral” rating and cut their target price for the stock from $17.00 to $11.00 in a research report on Thursday, October 10th. Northland Securities restated a “hold” rating and set a $10.00 price target on shares of ADTRAN in a report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of ADTRAN in a report on Thursday, October 31st. Zacks Investment Research cut ADTRAN from a “buy” rating to a “hold” rating and set a $10.00 price target for the company. in a report on Monday, October 14th. Finally, BidaskClub cut ADTRAN from a “sell” rating to a “strong sell” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.00.

In related news, Director Balan Nair bought 10,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was purchased at an average price of $9.19 per share, for a total transaction of $91,900.00. Following the acquisition, the director now owns 49,505 shares in the company, valued at $454,950.95. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Kimpe bought 3,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $9.02 per share, with a total value of $27,060.00. Following the acquisition, the senior vice president now owns 19,155 shares in the company, valued at approximately $172,778.10. The disclosure for this purchase can be found here. Company insiders own 2.52% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of ADTRAN during the 2nd quarter worth approximately $114,000. Russell Investments Group Ltd. lifted its stake in shares of ADTRAN by 29.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 111,856 shares of the communications equipment provider’s stock worth $1,703,000 after acquiring an additional 25,690 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of ADTRAN during the 2nd quarter worth approximately $7,051,000. California Public Employees Retirement System lifted its stake in shares of ADTRAN by 16.9% during the 3rd quarter. California Public Employees Retirement System now owns 101,109 shares of the communications equipment provider’s stock worth $1,147,000 after acquiring an additional 14,585 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of ADTRAN by 57.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 678,228 shares of the communications equipment provider’s stock worth $10,343,000 after acquiring an additional 248,296 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Shares of NASDAQ:ADTN traded down $0.11 during trading on Wednesday, hitting $9.08. 268,398 shares of the company’s stock were exchanged, compared to its average volume of 358,835. ADTRAN has a 52-week low of $8.09 and a 52-week high of $17.81. The business’s 50-day simple moving average is $9.29 and its 200 day simple moving average is $12.25. The company has a market cap of $434.30 million, a price-to-earnings ratio of -19.32 and a beta of 1.21.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, November 13th. ADTRAN’s dividend payout ratio is presently -76.60%.

About ADTRAN

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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