ATN International (NASDAQ:ATNI) Issues Quarterly Earnings Results

ATN International (NASDAQ:ATNI) issued its quarterly earnings data on Wednesday. The technology company reported ($4.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($4.22), Zacks reports. The company had revenue of $184.50 million for the quarter, compared to analysts’ expectations of $184.50 million. ATN International had a net margin of 22.55% and a negative return on equity of 10.16%.

ATN International Trading Up 27.6%

Shares of NASDAQ ATNI opened at $30.63 on Friday. ATN International has a fifty-two week low of $13.86 and a fifty-two week high of $30.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. The company has a market cap of $471.12 million, a price-to-earnings ratio of 2.98, a PEG ratio of 4.00 and a beta of 0.56. The business’s 50 day moving average price is $25.43 and its 200-day moving average price is $26.24.

ATN International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.29 per share. This is a positive change from ATN International’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International’s payout ratio is currently 11.28%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research downgraded ATN International from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Weiss Ratings upgraded ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ATN International presently has an average rating of “Reduce”.

Insider Transactions at ATN International

In other ATN International news, major shareholder Cornelius B. Prior, Jr. sold 19,100 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $27.96, for a total value of $534,036.00. Following the sale, the insider owned 87,936 shares in the company, valued at $2,458,690.56. This trade represents a 17.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 81,564 shares of company stock worth $2,277,271. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in ATN International during the 1st quarter valued at about $138,000. Segall Bryant & Hamill LLC purchased a new position in shares of ATN International during the fourth quarter worth approximately $448,000. Ameriprise Financial Inc. increased its position in shares of ATN International by 7.2% during 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 period. Marshall Wace LLP raised its stake in shares of ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after acquiring an additional 27,714 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of ATN International by 17.1% during the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock valued at $1,141,000 after acquiring an additional 10,253 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company’s stock.

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.