Shares of Tellabs, Inc (NASDAQ:TLAB) moved up to the record high level since their IPO in 1983 after the company picked acting CEO Dan Kelly to the job permanently and awarded a $1 per share dividend.
The phone- equipment manufacturer’s stock hiked 21% to settle in New York at $3.56. Shares of the company had plunged 27% current year before this boost.
The Naperville, Illinois-based Tellabs reprobated in a statement on Friday that Dan Kelly, who will also serve as president, starts the position immediately.
The onetime $1 dividend is part of a scheme to lift the stock after it plunged to a 19- year record low level current month.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. ADTRAN, Inc (NASDAQ:ADTN) fell -1.70% to settle at $19.66, Juniper Networks, Inc (NYSE:JNPR) moved down -0.22% to end at $17.89 while Cisco Systems, Inc (NASDAQ:CSCO) decreased -0.53% to finish at $18.91 on Friday.
Tellabs, Inc (NASDAQ:TLAB) last session’s volume of 21.13 million shares was surprisingly higher than its average volume of 2.80 million shares. The stock after opening at $3.29 hit high price of $3.60 and then closed at $3.56 by scoring +20.68%.
The liquidity measure in recent quarter results of the company was recorded 3.38 as current ratio and on the other side the debt to equity ratio was 0.14 and long-term debt to equity ratio remained at 0.00. The Company had total cash of $1.14 billion at hand and a book value per share as $4.04 in the most recent quarter.
The stock’s price volatility was 5.37% for a week and 3.63% for a month as well as price volatility’s Average True Range for 14 days was 0.14 and its beta remained at 0.59.
TLAB generated revenue of $1.13 billion in the previous twelve months and earned $-153.30 million. The Company showed a negative -13.60% in the net profit margin as well as in its operating margin which remained at -12.49%. Company’s annual sales growth for the past five years was -8.83%.
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