ATN International, Inc. (NASDAQ:ATNI) to Issue $0.24 Quarterly Dividend

ATN International, Inc. (NASDAQ:ATNI) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.24 per share by the technology company on Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, September 30th.

ATN International has increased its dividend by an average of 8.6% per year over the last three years. ATN International has a payout ratio of 369.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect ATN International to earn $0.26 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 369.2%.

ATN International Stock Up 0.3 %

Shares of NASDAQ ATNI traded up $0.10 during midday trading on Friday, reaching $30.05. 60,435 shares of the company’s stock traded hands, compared to its average volume of 115,298. The company has a market cap of $460.28 million, a price-to-earnings ratio of -23.08, a P/E/G ratio of 30.80 and a beta of 0.56. The stock’s 50 day simple moving average is $26.30 and its 200-day simple moving average is $25.89. The company has a quick ratio of 1.04, a current ratio of 1.10 and a debt-to-equity ratio of 0.83. ATN International has a one year low of $18.20 and a one year high of $39.88.

ATN International (NASDAQ:ATNI) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.76. The business had revenue of $183.28 million for the quarter, compared to analysts’ expectations of $182.39 million. ATN International had a positive return on equity of 0.12% and a negative net margin of 0.89%. During the same quarter last year, the firm earned ($0.03) EPS. On average, analysts predict that ATN International will post 0.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ATNI. StockNews.com upgraded shares of ATN International from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. BWS Financial restated a “buy” rating and issued a $30.00 target price on shares of ATN International in a research note on Friday, July 26th.

About ATN International

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.