UBS Cuts Price Target and Estimates on ADTRAN (ADTN); Pressing Reset...Visibility Limited
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Price: $24.30 -0.08%
Rating Summary:
3 Buy, 15 Hold, 8 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
3 Buy, 15 Hold, 8 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade ADTN Now!
UBS maintains a 'Buy' on ADTRAN (NASDAQ: ADTN) price target of $28.00 (from $35.00).
Analyst, Nikos Theodosopoulos, said, "Adtran missed 2Q estimates, with guidance for 3Q that also fell short of ests. For 2Q/3Q, we revise Revs/non-GAAP EPS to $184m/$0.38 and $185m/$0.31, compared to our previous estimates of $189m/$0.42 and $216m/$0.54, respectively. The bulk of the earnings shortfall in 3Q relative to our prior expectations is from lower revenues, with limited leverage on opex. Hence, we now forecast 3Q OM at 15% vs. 21.5% previously. Our ‘12/’13E non-GAAP EPS goes to $1.33/$1.77 vs $.1.77/$2.30 previously."
However, Theodosopoulos notes that the Company still has 5.4 million share capacity on its buyback plan and hopes to see management step in aggressively following the sell-off.
For an analyst ratings summary and ratings history on ADTRAN click here. For more ratings news on ADTRAN click here.
Shares of ADTRAN closed at $23.01 yesterday, with a 52 week range of $22.58-$40.95.
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Analyst, Nikos Theodosopoulos, said, "Adtran missed 2Q estimates, with guidance for 3Q that also fell short of ests. For 2Q/3Q, we revise Revs/non-GAAP EPS to $184m/$0.38 and $185m/$0.31, compared to our previous estimates of $189m/$0.42 and $216m/$0.54, respectively. The bulk of the earnings shortfall in 3Q relative to our prior expectations is from lower revenues, with limited leverage on opex. Hence, we now forecast 3Q OM at 15% vs. 21.5% previously. Our ‘12/’13E non-GAAP EPS goes to $1.33/$1.77 vs $.1.77/$2.30 previously."
However, Theodosopoulos notes that the Company still has 5.4 million share capacity on its buyback plan and hopes to see management step in aggressively following the sell-off.
For an analyst ratings summary and ratings history on ADTRAN click here. For more ratings news on ADTRAN click here.
Shares of ADTRAN closed at $23.01 yesterday, with a 52 week range of $22.58-$40.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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