In a year marked by significant volatility, shares of Atlantic Tele-Network Inc. (ATNI) hit a new 52-week low, dropping to $14.85. This latest price level reflects a stark contrast to performance over the past year, with the company’s stock experiencing a significant decline of -58.8%. Despite these challenges, ATNI maintains a significant 6.35% dividend yield and has consistently paid dividends for 27 consecutive years. According to InvestingPro analysis, the stock appears to be currently undervalued. Investors have been watching ATNI closely as it navigates a challenging market environment, with the stock struggling to regain momentum. The 52-week low serves as a critical indicator for market watchers and shareholders, who are well aware of the downward trend in stocks over the past year. Analyst targets suggest significant upside potential, with price targets ranging from $27 to $41. InvestingPro subscribers have access to 13 additional key insights on ATNI’s financial health and future prospects.
In other recent news, ATN International (NASDAQ: ) reported its third quarter 2024 financial results, revealing a decrease in total revenue and a significant net loss. The company reported a 7% drop in total revenue to $178.5 million, mainly due to the end of government programs and a decline in construction revenue. Net loss for the quarter was $32.7 million, or $2.26 per share, a significant increase from the prior year’s net loss of $3.6 million, or $0.31 per share.
Non-cash goodwill impairment charges of $35.3 million significantly impacted the operating loss, which was reported at $38.4 million. In terms of segment performance, International segment revenue was flat at $94.3 million, while US segment revenue fell 13% to $84.2 million.
The company revised its full-year 2024 revenue guidance to $720 million to $730 million and lowered adjusted EBITDA expectations to $182 million to $188 million. Despite these challenges, ATN International remains committed to strategic investments in fiber-based projects. This is part of the company’s continued focus on improving cash flow and margins amid competitive pressures.
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