ATN International (NASDAQ:ATNI) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of ATN International (NASDAQ:ATNI) from a buy rating to a hold rating in a research report report published on Wednesday, June 26th, ValuEngine reports.

Several other equities analysts have also recently issued reports on the stock. BidaskClub raised shares of Winmark from a sell rating to a hold rating in a research note on Tuesday, May 14th. Zacks Investment Research upgraded shares of FirstService from a strong sell rating to a hold rating and set a $110.00 price objective on the stock in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $73.67.

ATN International stock traded up $0.24 during trading hours on Wednesday, hitting $58.60. 63,069 shares of the stock were exchanged, compared to its average volume of 56,816. ATN International has a 12 month low of $52.25 and a 12 month high of $88.78. The stock has a 50-day moving average of $59.56. The stock has a market capitalization of $925.56 million, a PE ratio of 45.43 and a beta of 0.39. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.18.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.06. The business had revenue of $103.30 million for the quarter, compared to analyst estimates of $108.14 million. ATN International had a net margin of 5.29% and a return on equity of 2.92%. As a group, sell-side analysts expect that ATN International will post -0.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Sunday, June 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Thursday, June 27th. ATN International’s payout ratio is 52.71%.

In other news, CFO Justin D. Benincasa sold 1,250 shares of ATN International stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $61.89, for a total value of $77,362.50. Following the completion of the transaction, the chief financial officer now owns 55,568 shares of the company’s stock, valued at approximately $3,439,103.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.34% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new stake in ATN International in the first quarter valued at about $55,000. New York State Common Retirement Fund grew its holdings in ATN International by 10.0% in the fourth quarter. New York State Common Retirement Fund now owns 12,979 shares of the technology company’s stock valued at $928,000 after purchasing an additional 1,179 shares during the period. BNP Paribas Arbitrage SA grew its holdings in ATN International by 886.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,427 shares of the technology company’s stock valued at $137,000 after purchasing an additional 2,181 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in ATN International by 381.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,662 shares of the technology company’s stock valued at $262,000 after purchasing an additional 2,901 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in ATN International in the fourth quarter valued at approximately $225,000. Institutional investors and hedge funds own 63.37% of the company’s stock.

ATN International Company Profile

ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, India, Bermuda, and the Caribbean. It operates through three segments: U.S. Telecom, International Telecom, and Renewable Energy. The U.S. Telecom segment offers wireless and wireline services; wholesale wireless voice and data roaming services to wireless carriers principally in the Southwest and Midwest the United States; and retail wireless, wireline, and wholesale long-distance voice services to telecommunications carriers.

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