Zacks Investment Research Downgrades ATN International (NASDAQ:ATNI) to Hold

ATN International (NASDAQ:ATNI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, 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. “

Several other research analysts have also recently issued reports on ATNI. National Securities assumed coverage on shares of ATN International in a report on Wednesday, October 16th. They set a “buy” rating for the company. BWS Financial raised shares of ATN International from a “sell” rating to a “buy” rating in a report on Monday, August 26th. Maxim Group reissued a “buy” rating and set a $71.00 target price on shares of ATN International in a report on Wednesday, July 24th. BidaskClub cut shares of ATN International from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Finally, ValuEngine raised shares of ATN International from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.33.

NASDAQ:ATNI opened at $56.19 on Monday. ATN International has a 12 month low of $50.48 and a 12 month high of $88.78. The firm has a fifty day simple moving average of $58.17 and a 200-day simple moving average of $58.53. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $914.67 million, a P/E ratio of 43.56 and a beta of 0.37.

ATN International (NASDAQ:ATNI) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.06. ATN International had a net margin of 3.57% and a return on equity of 1.92%. The business had revenue of $107.72 million during the quarter, compared to the consensus estimate of $106.51 million. Equities analysts forecast that ATN International will post -0.2 EPS for the current year.

Several institutional investors have recently modified their holdings of ATNI. Acadian Asset Management LLC raised its holdings in shares of ATN International by 11.3% during the second quarter. Acadian Asset Management LLC now owns 85,230 shares of the technology company’s stock worth $4,919,000 after purchasing an additional 8,651 shares during the last quarter. Global Alpha Capital Management Ltd. raised its holdings in shares of ATN International by 3.3% during the second quarter. Global Alpha Capital Management Ltd. now owns 217,914 shares of the technology company’s stock worth $12,580,000 after purchasing an additional 6,860 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of ATN International by 92.2% during the second quarter. Russell Investments Group Ltd. now owns 12,973 shares of the technology company’s stock worth $746,000 after purchasing an additional 6,225 shares during the last quarter. Portland Global Advisors LLC purchased a new position in shares of ATN International during the second quarter worth $226,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of ATN International by 50.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,770 shares of the technology company’s stock worth $275,000 after purchasing an additional 1,590 shares during the last quarter. 63.90% of the stock is owned by hedge funds and other institutional investors.

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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