ATN International (NASDAQ:ATNI) Releases Earnings Results, Misses Estimates By $4.22 EPS

ATN International (NASDAQ:ATNI) issued its quarterly earnings data on Wednesday. The technology company reported ($4.10) EPS for the quarter, missing the consensus estimate of $0.12 by ($4.22), Zacks reports. ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%.

ATN International Trading Down 4.5%

Shares of ATNI stock traded down $1.12 on Wednesday, hitting $24.01. 82,854 shares of the company’s stock traded hands, compared to its average volume of 72,302. The stock has a market capitalization of $369.27 million, a price-to-earnings ratio of -24.25, a P/E/G ratio of 4.11 and a beta of 0.56. The company’s fifty day simple moving average is $25.47 and its 200 day simple moving average is $26.17. ATN International has a one year low of $13.86 and a one year high of $30.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21.

ATN International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, June 30th. This is a positive change from ATN International’s previous quarterly dividend of $0.28. ATN International’s dividend payout ratio (DPR) is presently -117.17%.

Wall Street Analysts Forecast Growth

ATNI has been the subject of several analyst reports. Zacks Research downgraded shares of ATN International from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Weiss Ratings raised shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Insiders Place Their Bets

In other ATN International news, major shareholder Cornelius B. Prior, Jr. sold 5,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $27.65, for a total transaction of $138,250.00. Following the completion of the sale, the insider directly owned 81,436 shares in the company, valued at $2,251,705.40. This represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 88,564 shares of company stock valued at $2,457,901 over the last ninety days. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On ATN International

Large investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. lifted its position in ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after purchasing an additional 35,394 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 buying an additional 10,253 shares during the period. 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 buying an additional 27,714 shares during the period. Ameriprise Financial Inc. raised its holdings in ATN International by 7.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after buying an additional 2,397 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in ATN International during the 4th quarter valued at $448,000. 65.50% of the stock is owned by hedge funds and other institutional investors.

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.