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ADTN

Adtran

$16.05

0.1 (0.63%)

20:14
07/17/18
07/17
20:14
07/17/18
20:14

Adtran reports Q2 adjusted EPS (10c), two estimates (32c)

Reports Q2 revenue $128.0M, consensus $127.55M. ADTRAN Chairman and Chief Executive Officer Tom Stanton stated, "Our second quarter results showed steady improvement from the previous quarter. We are pleased with our quarter-over-quarter growth in revenue and gross margins. Looking ahead, we expect our international business to remain strong through the second half of the year. We are also encouraged by what we are seeing in our North American carrier and cable/MSO business - all of which indicate further momentum as we head into 2019."

  • 18

    Jul

ADTN Adtran
$16.05

0.1 (0.63%)

04/19/18
04/19/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Clorox (CLX) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Dara Mohsenian saying valuation looks "stretched" on muted earnings growth and lowered his fiscal 2019 earnings estimate by 2% to reflect deterioration in U.S. Household Products sector. 2. Adtran (ADTN) downgraded to Hold from Buy at Argus with analyst Jim Kelleher saying the company has pushed out its expectations for a key client conducting a strategic review of spending, leading to revenue decline for its North America segment to an all-time low. 3. Align Technology (ALGN) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Steve Beuchaw saying his web trends tracking implies growth in the next 1-2 quarters slows to 25% from 35%. 4. ConocoPhillips (COP) downgraded to Hold from Buy at Edward Jones with analyst Jason Gammel citing valuation following the recent rally in the shares. 5. Valvoline (VVV) downgraded to Neutral from Buy at Longbow with analyst Dmitry Silversteyn saying he sees a slower pace of price realization in Quick Lubes combined with a higher cost outlook, limiting earnings upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/19/18
NEED
04/19/18
NO CHANGE
Target $18
NEED
Buy
Adtran price target lowered to $18 from $22 at Needham
Needham analyst Richard Valera lowered his price target on Adtran (ADTN) to $18 after the company's Q1 earnings miss and lower than expected Q2 outlook. The analyst points to continued slowdown at Adtran's key customer CenturyLink (CTL), adding that its vectoring revenue is unlikely to return to normal. Despite those challenges, Valera points to Adtran management expressing confidence in the ramp of "several programs" that should drive improved earnings in the second half of this year and in 2019, keeping his Buy rating.
04/19/18
MKMP
04/19/18
NO CHANGE
Target $20
MKMP
Buy
Adtran fundamentals have bottomed, says MKM Partners
MKM Partners analyst Michael Genovese nudged his price target on Adtran lower to $20 from $21 after the company's Q1 earnings miss and soft Q2 guidance. The analyst keeps his Buy rating however, stating that the fundamentals for Adtran may have bottomed as he remains positive on the customer capital spending environment as well as the potential of the 5G network build cycle over the next 3-4 years. Genovese also cites Adtran's attractive valuation of 0.9-times enterprise value to expected FY19 sales which is its "historic bottom".
04/19/18
ARGS
04/19/18
DOWNGRADE
ARGS
Hold
Adtran downgraded to Hold at Argus on lower revenues and margin compression
As reported earlier, Argus analyst Jim Kelleher downgraded Adtran to Hold after its miss on Q1 results and below-consensus outlook for Q1. The analyst further states that the company has pushed out its expectations for a key client conducting a strategic review of spending, leading to revenue decline for its North America segment to an all-time low. Kelleher adds that even once that strategic review is completed, there is no assurance that the company can regain its prior business levels, stating that Adtran's return to sales and earnings growth appear "increasingly distant".

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