ATN International (NASDAQ:ATNI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of ATN International (NASDAQ:ATNIGet Rating) from a buy rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “ATN International, Inc. invests, own and operate communications companies and renewable energy assets. The company through its operating subsidiaries provide wireless and wireline connectivity to residential and business customers including mobile wireless solutions, local exchange services and broadband internet services; distributed solar electric power to corporate, utility and municipal customers and owner and operator of terrestrial and submarine fiber optic transport systems primarily in the United States and the Caribbean. ATN International Inc., formerly known as Atlantic Tele-Network, Inc., is based in Beverly, United States. “

A number of other equities analysts have also weighed in on the company. BWS Financial lowered their target price on ATN International from $85.00 to $52.00 in a research report on Friday, February 25th. StockNews.com raised ATN International from a sell rating to a hold rating in a research report on Thursday, April 21st.

NASDAQ:ATNI opened at $40.64 on Thursday. The stock’s 50-day moving average is $38.68 and its 200-day moving average is $39.67. ATN International has a 1-year low of $32.07 and a 1-year high of $49.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.20.

ATN International (NASDAQ:ATNIGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). ATN International had a positive return on equity of 0.05% and a negative net margin of 3.96%. During the same period in the prior year, the firm earned $0.17 EPS. On average, research analysts forecast that ATN International will post -0.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 8th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, April 7th. ATN International’s payout ratio is currently -38.86%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. purchased a new stake in ATN International in the 1st quarter valued at $55,000. Tudor Investment Corp Et Al purchased a new stake in shares of ATN International during the 3rd quarter valued at $229,000. Public Employees Retirement System of Ohio increased its position in shares of ATN International by 39.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 5,378 shares of the technology company’s stock valued at $215,000 after purchasing an additional 1,524 shares during the last quarter. Credit Suisse AG increased its position in shares of ATN International by 18.8% during the 4th quarter. Credit Suisse AG now owns 8,963 shares of the technology company’s stock valued at $358,000 after purchasing an additional 1,417 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of ATN International by 132.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,752 shares of the technology company’s stock valued at $551,000 after purchasing an additional 6,692 shares during the last quarter. 64.40% of the stock is owned by institutional investors and hedge funds.

ATN International Company Profile (Get Rating)

ATN International, Inc, through its subsidiaries, provides telecommunications services. It operates in three segments: International Telecom, US Telecom, and Renewable Energy. The International Telecom segment provides fixed data and voice; fixed, carrier, managed, and mobility services to customers in Bermuda, the Cayman Islands, Guyana, and the US Virgin Islands, as well as video services in Bermuda, the Cayman Islands, and the US Virgin Islands.

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