ATN International $81.87 – Nasdaq symbol ATNI

Article Excerpt

ATN INTERNATIONAL $81.87 (Nasdaq symbol ATNI; TSINetwork Rating: Speculative) (340-777-8000; www.atni.com; Shares outstanding: 16.1 million; Market cap: $1.3 billion; Dividend yield: 1.6%) (formerly Atlantic Tele- Network) owns wireless and wireline (traditional telephone and Internet) operations in the U.S. Southwest, New England, New York State, Bermuda, parts of the Caribbean and Guyana. It also owns solar power plants in the U.S. and India, which sell electricity under long-term contracts. In the three months ended March 31, 2016, the company’s revenue rose 5.1%, to $89.7 million from $85.3 million a year earlier. Earnings per share excluding one-time items, were $0.54 in the latest quarter, down 10.0% from $0.60. The decline was mostly due to the cost of integrating acquisitions. ATN has just completed the $145 million purchase of the Innovative Group of Companies. It provides cable TV, Internet and traditional phone services primarily in the U.S. Virgin Islands. ATN can well afford this acquisition—it holds cash of $391.1 million, or $24.29 a share, and has low…