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NEW YORK (TheStreet) -- Shares of Adtran (ADTN) - Get ADTRAN, Inc. Report are down 2.86% to $19.17 on heavy trading volume late Wednesday afternoon even though the Huntsville, AL-based company posted better-than-expected results for the 2016 second quarter.

Last night, the networking and communications equipment company reported earnings of 25 cents per share, topping analysts' expectations of 20 cents per share.

Revenue for the quarter was $162.7 million, while analysts were forecasting revenue of $162.4 million.

Additionally, the company announced a cash dividend of 9 cents per share for the period.

MKM Partners maintained its "buy" rating and $24 price target on the stock earlier today following the results.

While the quarter was solid and strong gross margins were positive, the firm said it was hoping for even more revenue and earnings per share.

About 1.75 million of the company's shares changed hands so far today compared to its average 30-day volume of 438,882 shares per day.

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Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed.

The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations.

But the team also finds that the company's return on equity has been disappointing.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: ADTN

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