Atlantic Tele-Network Inc. (NASDAQ:ATNI) has been given a consensus broker rating score of 2.00 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a 12-month consensus price target of $78.33 for the company and are expecting that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also given Atlantic Tele-Network an industry rank of 156 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on ATNI shares. Zacks Investment Research raised shares of Atlantic Tele-Network from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 29th. Drexel Hamilton started coverage on shares of Atlantic Tele-Network in a report on Wednesday, June 22nd. They issued a “buy” rating for the company.
Shares of Atlantic Tele-Network (NASDAQ:ATNI) opened at 65.04 on Monday. The stock’s 50 day moving average is $65.60 and its 200-day moving average is $72.27. The stock has a market cap of $1.05 billion, a PE ratio of 76.34 and a beta of 0.81. Atlantic Tele-Network has a 1-year low of $62.70 and a 1-year high of $83.80.
Atlantic Tele-Network (NASDAQ:ATNI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.67. Atlantic Tele-Network had a net margin of 3.73% and a return on equity of 2.16%. The business earned $100 million during the quarter, compared to analyst estimates of $94.67 million. On average, analysts predict that Atlantic Tele-Network will post $0.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.09%. This is an increase from Atlantic Tele-Network’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, September 28th. Atlantic Tele-Network’s dividend payout ratio is presently 158.14%.
In other Atlantic Tele-Network news, CEO Michael T. Prior sold 1,650 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $80.07, for a total transaction of $132,115.50. Following the sale, the chief executive officer now owns 369,778 shares in the company, valued at approximately $29,608,124.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP William F. Kreisher acquired 1,446 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were bought at an average price of $67.17 per share, for a total transaction of $97,127.82. Following the acquisition, the vice president now owns 39,572 shares in the company, valued at approximately $2,658,051.24. The disclosure for this purchase can be found here. 33.60% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. PineBridge Investments L.P. increased its stake in Atlantic Tele-Network by 6.6% in the second quarter. PineBridge Investments L.P. now owns 1,372 shares of the company’s stock valued at $107,000 after buying an additional 85 shares during the last quarter. First Mercantile Trust Co. bought a new stake in Atlantic Tele-Network during the second quarter valued at about $126,000. Legal & General Group Plc increased its stake in Atlantic Tele-Network by 31.6% in the first quarter. Legal & General Group Plc now owns 2,308 shares of the company’s stock valued at $176,000 after buying an additional 554 shares during the last quarter. Royal Bank of Canada increased its stake in Atlantic Tele-Network by 9.3% in the first quarter. Royal Bank of Canada now owns 2,841 shares of the company’s stock valued at $215,000 after buying an additional 241 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Atlantic Tele-Network by 92.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,521 shares of the company’s stock valued at $274,000 after buying an additional 1,694 shares during the last quarter. Hedge funds and other institutional investors own 58.02% of the company’s stock.
About Atlantic Tele-Network
ATN International, Inc, formerly Atlantic Tele-Network, Inc, is a holding company. The Company, through its subsidiaries, provides wireless and wireline telecommunications services in North America, Bermuda and the Caribbean; owns and operates commercial distributed generation solar power systems in the United States, and owns and operates terrestrial and submarine fiber optic transport systems in the United States and the Caribbean, respectively.
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