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ADTN

Adtran

$18.15

1.08 (6.33%)

20:24
10/16/18
10/16
20:24
10/16/18
20:24

Adtran reports Q3 adjusted EPS 21c, consensus 4c

Reports Q3 revenue $140.3M, consensus $146.61M. CEO Tom Stanton stated, "Total revenue for the quarter grew 10% sequentially, including the effect of a late start to our G.fast shipments to the Asia-Pacific region. Notwithstanding the G.fast shipment impact, our third quarter results showed strong improvements in gross margins and operating expenses. On a regional basis, sales contributions followed typical seasonal patterns with growth in the Americas, expected seasonal declines in Europe and growth in Asia-Pacific, driven by new customer activity. Looking forward, we are very encouraged by the continued momentum in ultra-broadband shipments to both carriers and MSOs globally as service providers continue to evolve their networks to meet changing customer expectations."

  • 17

    Oct

ADTN Adtran
$18.15

1.08 (6.33%)

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.
07/18/18
NORL
07/18/18
DOWNGRADE
NORL
Market Perform
Adtran downgraded to Market Perform from Outperform at Northland
07/18/18
07/18/18
DOWNGRADE
Target $17

Market Perform
Adtran downgraded to Market Perform after earnings at Northland
As previously reported, Northland analyst Tim Savageaux downgraded Adtran (ADTN) to Market Perform from Outperform following the company's Q2 report and Q3 revenue guidance that met consensus, stating that he views the shares as fairly valued given that he believes the earnings power needed to support a higher share price is "still a ways off." While Adtran is "slowly but clearly diversifying away" from CenturyLink (CTL), Savageaux has lowered expectations for any snap-back at CenturyLink and sees slower than expected progress at other U.S. Tier 1 telecom companies, he tells investors. The analyst, who reduced his estimates for 2019, cut his price target on Adtran shares to $17 from $20.
09/12/18
MKMP
09/12/18
NO CHANGE
MKMP
Adtran price target raised to $22 from $21 at MKM Partners
MKM Partners analyst Michael Genovese reiterated a Buy rating on Adtran, raised his price target on shares to $22 from $21, and raised his Q3 revenue estimate by $2M to $148M, his Q4 revenue estimate by $6M to $143M, and his FY19 revenue forecast by 3% to $598M. Genovese said he was increasingly bullish on Adtran as MKM's check indicated that Adtran appears to be seeing broad-based demand improvement across its domestic and international markets.

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