In a year marked by significant volatility, Atlantic Tele-Network Inc. (ATNI) stock has recorded a new 52-week low, dipping to $14.85. This latest price level reflects a stark contrast from its performance over the past year, with the company's shares experiencing a substantial decline of -58.8%. Despite these challenges, ATNI maintains a notable 6.35% dividend yield and has consistently paid dividends for 27 consecutive years. According to InvestingPro analysis, the stock currently appears undervalued. Investors have been closely monitoring ATNI as it navigates through a challenging market environment, which has seen the stock struggle to regain momentum. The 52-week low serves as a critical indicator for market watchers and shareholders, who are keenly aware of the stock's downward trend 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 about ATNI's financial health and future prospects.
In other recent news, ATN International (NASDAQ:ATNI) disclosed its third-quarter financial results for 2024, revealing a decrease in total revenue and a significant net loss. The company reported a 7% decline in total revenue to $178.5 million, mainly due to the end of government programs and a drop in construction revenues. The net loss for the quarter stood at $32.7 million, or $2.26 per share, a stark increase from the prior year's net loss of $3.6 million, or $0.31 per share.
A non-cash goodwill impairment charge of $35.3 million significantly impacted the operating loss, which was reported at $38.4 million. In terms of segment performance, international segment revenue remained stable at $94.3 million, while U.S. segment revenue declined by 13% to $84.2 million.
The company revised its full-year 2024 revenue guidance to $720 million to $730 million and lowered its 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 ongoing focus on improving cash flow and margins amidst competitive pressures.
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