ADTRAN (ADTN) Shares Down 17.2%

ADTRAN, Inc. (NASDAQ:ADTN)’s share price fell 17.2% on Wednesday . The stock traded as low as $14.79 and last traded at $15.01. 2,514,703 shares traded hands during trading, an increase of 466% from the average session volume of 444,535 shares. The stock had previously closed at $18.12.

Several brokerages have recently weighed in on ADTN. Bank of America upgraded ADTRAN from an “underperform” rating to a “neutral” rating in a report on Thursday, September 13th. MKM Partners increased their price objective on ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th. ValuEngine raised ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. BidaskClub cut ADTRAN from a “buy” rating to a “hold” rating in a research 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 objective on the stock in a research report on Tuesday, October 9th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.04.

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 1.90. The stock has a market cap of $842.60 million, a P/E ratio of 17.88 and a beta of 0.53.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, July 17th. The communications equipment provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.15. ADTRAN had a negative return on equity of 0.56% and a negative net margin of 2.15%. The company had revenue of $128.05 million for the quarter, compared to analysts’ expectations of $127.80 million. During the same period last year, the firm posted $0.26 earnings per share. On average, analysts predict that ADTRAN, Inc. will post -0.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.40%. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of ADTRAN during the second quarter valued at $151,000. Xact Kapitalforvaltning AB purchased a new position in ADTRAN in the second quarter worth about $168,000. Koch Industries Inc. purchased a new position in ADTRAN in the first quarter worth about $236,000. Raymond James & Associates purchased a new position in ADTRAN in the second quarter worth about $272,000. Finally, Alps Advisors Inc. purchased a new position in ADTRAN in the second quarter worth about $407,000. 95.12% of the stock is currently owned by institutional investors.

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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