ATN International (NASDAQ:ATNI) Announces Earnings Results, Meets Expectations

ATN International (NASDAQ:ATNI) posted its quarterly earnings data on Wednesday. The technology company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03, Zacks reports. The business had revenue of $184.22 million for the quarter, compared to analysts’ expectations of $183.60 million. ATN International had a positive return on equity of 0.13% and a negative net margin of 1.11%.

ATN International Stock Performance

Shares of ATN International stock traded down $3.74 during trading hours on Thursday, reaching $26.18. The company had a trading volume of 111,209 shares, compared to its average volume of 54,299. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.26 and a quick ratio of 1.21. ATN International has a one year low of $13.76 and a one year high of $30.45. The firm has a market cap of $399.51 million, a PE ratio of -28.15, a price-to-earnings-growth ratio of 7.71 and a beta of 0.52. The business has a fifty day simple moving average of $24.92 and a 200 day simple moving average of $20.05.

ATN International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.10 annualized dividend and a dividend yield of 4.2%. ATN International’s dividend payout ratio is currently -118.28%.

Institutional Investors Weigh In On ATN International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in ATN International in the first quarter worth approximately $138,000. Marshall Wace LLP grew its holdings in shares of ATN International by 137.9% during the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after purchasing an additional 27,714 shares during the last quarter. Gamco Investors INC. ET AL raised its position in ATN International by 17.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 10,253 shares during the period. Ameriprise Financial Inc. lifted its stake in ATN International by 7.2% in the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock worth $583,000 after purchasing an additional 2,397 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in ATN International by 5.6% during the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after buying an additional 35,394 shares during the period. 65.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ATNI. Weiss Ratings raised shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Wall Street Zen upgraded shares of ATN International from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, ATN International has an average rating of “Hold” and an average price target of $22.00.

About ATN International

ATN International, Inc (NASDAQ: ATNI) is a diversified provider of telecommunications services that operates through a combination of wireless, wireline and broadband networks. Headquartered in Beverly, Massachusetts, the company offers a range of voice and data solutions to residential, commercial and wholesale customers. Its core offerings include long-distance voice services, fixed-line telephony, broadband internet access and network infrastructure solutions.

Through its business segments, ATN delivers tailored communications products to underserved markets across the Caribbean, Latin America, parts of the Pacific and select rural regions of the United States.