ATN International (NASDAQ:ATNI) Releases Quarterly Earnings Results, Beats Estimates By $0.90 EPS

ATN International (NASDAQ:ATNI) announced its quarterly earnings results on Wednesday. The technology company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.90, FiscalAI reports. ATN International had a net margin of 22.55% and a negative return on equity of 9.46%. The company had revenue of $183.24 million for the quarter, compared to analysts’ expectations of $184.90 million.

ATN International Stock Up 1.1%

Shares of NASDAQ:ATNI traded up $0.29 during midday trading on Wednesday, reaching $25.79. The company’s stock had a trading volume of 117,768 shares, compared to its average volume of 83,247. The firm has a 50 day moving average of $28.04 and a 200-day moving average of $27.01. The firm has a market capitalization of $397.17 million, a P/E ratio of 2.51, a PEG ratio of 3.27 and a beta of 0.73. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. ATN International has a 12-month low of $14.15 and a 12-month high of $33.41.

ATN International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Saturday, October 3rd were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, October 2nd. ATN International’s payout ratio is 11.28%.

Wall Street Analyst Weigh In

ATNI has been the subject of several research analyst reports. Weiss Ratings upgraded shares of ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Zacks Research upgraded ATN International from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Wall Street Zen lowered ATN International from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, ATN International has an average rating of “Hold”.

Insider Activity

In related news, Director Patricia Jacobs sold 1,500 shares of ATN International stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $30.04, for a total transaction of $45,060.00. Following the completion of the transaction, the director directly owned 19,958 shares of the company’s stock, valued at $599,538.32. This trade represents a 6.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Cornelius Prior, Jr. sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $31.86, for a total transaction of $318,600.00. Following the sale, the insider directly owned 47,665 shares in the company, valued at $1,518,606.90. The trade was a 17.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 56,638 shares of company stock valued at $1,778,513. 5.60% of the stock is owned by company insiders.

ATN International Company Profile

ATN International, Inc is a telecommunications company that provides wireless, broadband, wireline, and related communications services. Through its operating businesses, the company offers mobile voice and data, internet access, fixed-line telephone service, video, enterprise connectivity, and managed network solutions.

ATN focuses on serving rural, remote, and underserved communities where communications infrastructure may be limited. Its operations have included wireless and broadband networks in the United States, as well as telecommunications businesses in international markets such as Bermuda and the Caribbean.

The company was founded in 1987 and was formerly known as Atlantic Tele-Network, Inc It adopted the name ATN International to reflect the broader scope of its telecommunications operations.