ATN International (NASDAQ:ATNI) Announces Earnings Results

ATN International (NASDAQ:ATNI) released 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 net margin of 22.55% and a negative return on equity of 10.16%. The business had revenue of $184.50 million during the quarter, compared to analysts’ expectations of $184.50 million.

ATN International Price Performance

Shares of ATN International stock traded up $0.18 on Friday, hitting $30.81. The company’s stock had a trading volume of 42,268 shares, compared to its average volume of 73,128. The company has a market capitalization of $473.87 million, a price-to-earnings ratio of 2.99, a price-to-earnings-growth ratio of 4.00 and a beta of 0.56. ATN International has a 1 year low of $13.86 and a 1 year high of $31.25. 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 firm has a fifty day moving average price of $25.43 and a 200-day moving average price of $26.24.

ATN International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were paid a $0.29 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.8%. This is a boost from ATN International’s previous quarterly dividend of $0.28. ATN International’s dividend payout ratio (DPR) is presently 11.28%.

Wall Street Analysts Forecast Growth

ATNI has been the topic of several analyst reports. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently 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 firm’s stock in a transaction that occurred 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 directly owned 87,936 shares of the company’s stock, valued at approximately $2,458,690.56. This trade represents a 17.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 81,564 shares of company stock worth $2,277,271 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. increased its holdings in ATN International by 5.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after acquiring an additional 35,394 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in 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 purchasing an additional 10,253 shares in the last quarter. Marshall Wace LLP grew its position 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 valued at $777,000 after purchasing an additional 27,714 shares during the period. Ameriprise Financial Inc. grew its position in shares of ATN International by 7.2% in the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after purchasing an additional 2,397 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of ATN International during the fourth quarter worth about $448,000. 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.