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ADTN

Adtran

$12.96

0.705 (5.76%)

10:55
01/24/19
01/24
10:55
01/24/19
10:55

Adtran sees Q1 revenue in the range $140M-$142M, consensus $133.61M

Says continues to make progress in terms of customer engagement, product development. Says remains focused on growing broadband access penetration. Says interest in 10G solutions is "extremely high". Sees Q1 gross margin on a non-GAAP basis around the 40% range. Sees Q1 non-GAAP operating expenses approximately $59M-$60M for organic Adtran. Expects consolidated tax rate to be a benefit of about 15%. Comments taken from Q4 earnings conference call.

  • 24

    Jan

ADTN Adtran
$12.96

0.705 (5.76%)

12/20/18
MKMP
12/20/18
NO CHANGE
Target $17
MKMP
Buy
Adtran price target lowered to $17 from $22 at MKM Partners
MKM Partners analyst Michael Genovese lowered his price target on Adtran to $17, modeling a valuation multiple of 1-times enterprise value to expected FY19 sales. The analyst also keeps his Buy rating on the stock and believes that the 40% decline in its price over the past 3 months is excessive. Genovese claims that Adtran is an "underappreciated potential beneficiary" of security related issues at Huawei while retaining its "share gains in the Cable MSO market related to Fiber Deep architecture" and ramping ups sales to NBN in Australia.
10/18/18
NEED
10/18/18
NO CHANGE
Target $17
NEED
Buy
Adtran price target lowered to $17 at Needham on Q3 revenue slip
Needham analyst Richard Valera nudged his price target on Adtran (ADTN) lower to $17 from $18 and also lowered his FY19 EPS view to 15c from 42c after its Q3 revenues came in "light due to an explainable slip out of shipments to NBN". The analyst also notes the management's more downbeat view of its G.Fast program with AT&T (T), along with a generally more muted outlook for next year. Valera keeps a Buy on Adtran however, stating that although the stock is setting new 52-week lows on a series of disappointments, its valuation multiple of 1.1-times enterprise value to expected 2018 sales is supportive of the rating.
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.
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.

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