ATN International, Inc. (ATNI) to Issue Quarterly Dividend of $0.24 on July 10th

ATN International, Inc. (NASDAQ:ATNI) declared a quarterly dividend on Tuesday, June 18th, investing.com reports. Investors of record on Sunday, June 30th will be given a dividend of 0.24 per share by the technology company on Wednesday, July 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Friday, June 28th.

ATN International has increased its dividend payment by an average of 8.6% annually over the last three years. ATN International has a dividend payout ratio of 177.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect ATN International to earn $0.54 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 177.8%.

ATN International Price Performance

Shares of ATN International stock traded up $0.01 on Wednesday, hitting $22.15. 28,464 shares of the company traded hands, compared to its average volume of 132,582. The stock has a market capitalization of $339.34 million, a P/E ratio of -17.04 and a beta of 0.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.00 and a current ratio of 1.06. ATN International has a 52 week low of $18.20 and a 52 week high of $39.88. The business has a 50-day simple moving average of $23.46 and a 200 day simple moving average of $30.51.

ATN International (NASDAQ:ATNI) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.34). The firm had revenue of $186.79 million for the quarter, compared to analysts’ expectations of $191.73 million. ATN International had a negative return on equity of 1.17% and a negative net margin of 1.96%. Research analysts expect that ATN International will post -0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATNI has been the subject of a number of research reports. BWS Financial reaffirmed a “buy” rating and issued a $30.00 price objective on shares of ATN International in a research note on Monday, April 29th. Raymond James reiterated a “strong-buy” rating and issued a $32.00 target price (down from $40.00) on shares of ATN International in a report on Friday, April 26th.

Insider Buying and Selling at ATN International

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