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ADTRAN (ADTN) Beats Earnings amp; Revenue Estimates in Q1

20 April 2017, 10:22 | Jan Cross

State Street Corp raised its position in shares of ADTRAN, Inc.

They expect $0.13 EPS, up 15.38% or $0.02 from last year's $0.11 per share. The difference between Actual EPS and Estimated EPS was 0.05 Percent. Finally, TD Asset Management Inc. boosted its stake in shares of ADTRAN by 43.4% in the third quarter. The company is expected to issue its next earnings report after the market closes on Tuesday, April 18th. Blackrock has invested 0% in ADTRAN, Inc.

In terms of earnings per share, 6 analysts have a 0.21 EPS mean target for the quarter ending Jun-17, for the quarter ending Sep-17, 6 analysts have a 0.24 EPS mean target and for the quarter ending Sep-17 there are 6 estimates of 0.73 EPS.

The company has spent $8.55 million cash to carry out financing activities during the quarter as against cash outgo of $15.21 million in the a year ago period.

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Operating income for the quarter was $7.03 million, compared with $5.52 million in the previous year period.

Several research firms recently commented on ADTN. (NASDAQ:ADTN) traded up 1.82% during mid-day trading on Tuesday, hitting $19.60. Zacks Investment Research cut ADTRAN from a "buy" rating to a "hold" rating in a report on Tuesday, March 21st. Drexel Hamilton initiated the shares of ADTN in report on Wednesday, September 9 with "Hold" rating. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this article on another website, it was stolen and reposted in violation of United States and worldwide trademark and copyright laws. Based on data provided from analysts, ADTRAN, Inc. has a current consensus target price of 22.63. (NASDAQ:ADTN)'s stock is experiencing unusual volume during today's trading. The target implies a 18.48% spike from where the shares are now trading. The stock has a 50 day moving average of $22.18 and a 200 day moving average of $19.97. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 30.07 and a beta of 0.60. Los Angeles Capital And Equity holds 0.01% in ADTRAN, Inc.

Total shares held by institutions as of the most recent company filings are 44,154,231 with a reported 3,144,138 bought and 1,863,669 sold. Finally, Teacher Retirement System of Texas increased its position in shares of ADTRAN by 13.5% in the second quarter. Municipal Employees Retirement System of MI raised its position in shares of ADTRAN by 1.2% in the third quarter. Municipal Employees Retirement System of MI now owns 14,060 shares of the communications equipment provider's stock worth $269,000 after buying an additional 170 shares during the last quarter. Guggenheim Capital LLC now owns 25,220 shares of the communications equipment provider's stock valued at $563,000 after buying an additional 13,959 shares during the last quarter.

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