ATN International (NASDAQ:ATNI) Releases Earnings Results, Misses Expectations By $0.30 EPS

ATN International (NASDAQ:ATNI) released its earnings results on Wednesday. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.30), Zacks reports. ATN International had a negative net margin of 2.05% and a negative return on equity of 0.52%.

ATN International Stock Down 0.9%

Shares of NASDAQ ATNI traded down $0.26 during mid-day trading on Wednesday, reaching $27.40. The company had a trading volume of 71,013 shares, compared to its average volume of 70,889. ATN International has a twelve month low of $13.76 and a twelve month high of $30.45. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.19 and a current ratio of 1.25. The stock has a market capitalization of $421.41 million, a PE ratio of -19.71, a price-to-earnings-growth ratio of 4.41 and a beta of 0.54. The stock’s 50 day moving average is $27.20 and its 200-day moving average is $23.44.

ATN International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. ATN International’s dividend payout ratio is -79.14%.

Hedge Funds Weigh In On ATN International

A number of hedge funds have recently modified their holdings of ATNI. Strs Ohio acquired a new position in shares of ATN International in the first quarter worth $138,000. Marshall Wace LLP increased its stake in shares of ATN International by 137.9% in the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after acquiring an additional 27,714 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of ATN International by 17.1% in the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after acquiring an additional 10,253 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of 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 acquiring an additional 2,397 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased 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 worth $9,918,000 after buying an additional 35,394 shares during the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen lowered ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings lowered ATN International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ATN International currently has a consensus rating of “Reduce”.

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.