ATN International (NASDAQ:ATNI) Announces Earnings Results

ATN International (NASDAQ:ATNI) posted its quarterly earnings data on Wednesday. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.76, Zacks reports. The company had revenue of $183.28 million during the quarter, compared to analyst estimates of $182.39 million. ATN International had a negative net margin of 1.96% and a negative return on equity of 1.17%. During the same period in the prior year, the firm earned ($0.03) earnings per share. ATN International updated its FY 2024 guidance to EPS.

ATN International Stock Up 12.7 %

NASDAQ:ATNI traded up $2.93 during mid-day trading on Thursday, reaching $26.07. The stock had a trading volume of 148,382 shares, compared to its average volume of 127,956. The business’s 50 day moving average is $22.78 and its 200 day moving average is $28.40. ATN International has a fifty-two week low of $18.20 and a fifty-two week high of $39.88. The stock has a market cap of $399.39 million, a P/E ratio of -20.05 and a beta of 0.56. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.06 and a quick ratio of 1.00.

ATN International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Sunday, June 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 3.68%. ATN International’s dividend payout ratio is currently -73.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ATNI. Raymond James reiterated a “strong-buy” rating and issued a $32.00 target price (down previously from $40.00) on shares of ATN International in a report on Friday, April 26th. BWS Financial reiterated a “buy” rating and issued a $30.00 target price on shares of ATN International in a report on Monday, April 29th.

Insider Buying and Selling

In other news, Chairman Michael T. Prior acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average price of $19.88 per share, for a total transaction of $198,800.00. Following the completion of the acquisition, the chairman now owns 523,026 shares of the company’s stock, valued at approximately $10,397,756.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.54% of the stock is currently owned by corporate insiders.

ATN International Company Profile

ATN International, Inc, through its subsidiaries, engages in the provision of digital infrastructure and communications services to residential, business, and government customers in the United States and internationally. The company operates through International Telecom and US Telecom segments. The company offers mobile, data, voice, broadband, and fixed services; handsets and accessories; and wholesale roaming, long distance voice services, and site maintenance services.