ATN International, Inc. (NASDAQ:ATNI) Announces Dividend Increase - $0.28 Per Share

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) declared a quarterly dividend on Tuesday, June 17th, investing.com reports. Investors of record on Monday, June 30th will be paid a dividend of 0.275 per share by the technology company on Monday, July 7th. This represents a $1.10 annualized dividend and a yield of 6.83%. The ex-dividend date is Monday, June 30th. This is a 14.6% increase from ATN International's previous quarterly dividend of $0.24.

ATN International has a payout ratio of -2,400.0% 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 analysts expect ATN International to earn ($0.32) 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 -300.0%.

ATN International Stock Performance

Shares of ATN International stock traded down $0.04 during trading hours on Thursday, hitting $16.10. 44,410 shares of the company were exchanged, compared to its average volume of 73,969. The company has a current ratio of 1.16, a quick ratio of 1.11 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $245.04 million, a price-to-earnings ratio of -6.97 and a beta of 0.62. The business has a 50-day moving average of $15.73 and a 200-day moving average of $17.07. ATN International has a 1 year low of $13.76 and a 1 year high of $33.72.

ATN International (NASDAQ:ATNI - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.47). ATN International had a positive return on equity of 1.27% and a negative net margin of 4.03%. The business had revenue of $179.29 million for the quarter, compared to analyst estimates of $178.67 million. As a group, analysts expect that ATN International will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ATNI shares. Raymond James Financial set a $22.00 target price on shares of ATN International in a research report on Thursday, March 6th. Wall Street Zen upgraded ATN International from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th.

Institutional Investors Weigh In On ATN International

A hedge fund recently bought a new stake in ATN International stock. Strs Ohio purchased a new position in shares of ATN International, Inc. (NASDAQ:ATNI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,800 shares of the technology company's stock, valued at approximately $138,000. 65.50% of the stock is owned by institutional investors and hedge funds.

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.