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

ATN International, Inc. (NASDAQ:ATNI) declared a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Investors 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 2.91%. The ex-dividend date is Monday, September 30th.

ATN International has raised its dividend payment by an average of 8.6% per year over the last three years. ATN International has a dividend payout ratio of 369.2% 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 $0.26 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 Trading Up 3.9 %

NASDAQ:ATNI opened at $32.96 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 1.10. ATN International has a one year low of $18.20 and a one year high of $39.88. The business’s 50-day simple moving average is $27.33 and its 200 day simple moving average is $25.82. The stock has a market cap of $504.85 million, a price-to-earnings ratio of -25.35, a price-to-earnings-growth ratio of 33.62 and a beta of 0.56.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATNI. BWS Financial restated a “buy” rating and set a $30.00 price objective on shares of ATN International in a research note on Friday, July 26th. StockNews.com upgraded ATN International from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

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.