ATN International Inc (NASDAQ:ATNI) announced a quarterly dividend on Wednesday, September 19th, Wall Street Journal reports. Shareholders of record on Sunday, September 30th will be paid a dividend of 0.17 per share by the technology company on Monday, October 8th. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, September 27th.
ATN International has raised its dividend payment by an average of 2.7% per year over the last three years. ATN International has a payout ratio of -680.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ATN International to earn ($0.19) per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of -357.9%.
NASDAQ:ATNI traded down $0.65 during trading hours on Wednesday, reaching $71.02. 599 shares of the company traded hands, compared to its average volume of 46,995. The stock has a market cap of $1.15 billion, a PE ratio of 32.57 and a beta of 0.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.63 and a current ratio of 1.68. ATN International has a 1-year low of $49.34 and a 1-year high of $75.94.
In related news, insider Michael T. Prior sold 5,000 shares of ATN International stock in a transaction on Monday, August 6th. The stock was sold at an average price of $64.83, for a total value of $324,150.00. Following the transaction, the insider now owns 398,624 shares in the company, valued at $25,842,793.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael T. Prior sold 2,000 shares of ATN International stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $72.69, for a total value of $145,380.00. Following the completion of the transaction, the insider now owns 397,624 shares in the company, valued at approximately $28,903,288.56. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock worth $525,630 in the last 90 days. Insiders own 32.80% of the company’s stock.
Several equities research analysts have recently issued reports on ATNI shares. BidaskClub upgraded ATN International from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Zacks Investment Research upgraded ATN International from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. ValuEngine upgraded ATN International from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Finally, Raymond James cut ATN International from an “outperform” rating to a “market perform” rating and set a $69.00 price objective on the stock. in a report on Friday, July 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.33.
ATN International Company Profile
ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, Bermuda, and the Caribbean. It operates through U.S. Telecom, International Telecom, and Renewable Energy segments. The company offers wholesale wireless voice and data roaming services; wireline local telephone and data, video, and long-distance voice services; and facilities-based integrated voice and data communications, and wholesale transport services to enterprise and residential customers.
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