ADTRAN, Inc. (NASDAQ:ADTN) announced a quarterly dividend on Tuesday, October 16th, RTT News reports. Stockholders of record on Wednesday, October 31st will be paid a dividend of 0.09 per share by the communications equipment provider on Wednesday, November 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, October 30th.
ADTRAN has a payout ratio of -81.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect ADTRAN to earn $0.23 per share next year, which means the company may not be able to cover its $0.36 annual dividend with an expected future payout ratio of 156.5%.
NASDAQ:ADTN traded up $1.07 during mid-day trading on Tuesday, reaching $18.12. The stock had a trading volume of 758,900 shares, compared to its average volume of 434,185. The company has a market capitalization of $842.60 million, a price-to-earnings ratio of 20.10 and a beta of 0.53. ADTRAN has a 1-year low of $13.95 and a 1-year high of $25.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.90 and a current ratio of 2.93.
A number of research firms recently commented on ADTN. Bank of America upgraded ADTRAN from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 13th. MKM Partners lifted their price target on ADTRAN from $21.00 to $22.00 in a research note on Thursday, September 13th. ValuEngine upgraded ADTRAN from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. BidaskClub upgraded ADTRAN from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Northland Securities downgraded ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 price target for the company. in a research note on Wednesday, July 18th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.04.
ADTRAN Company Profile
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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