Anterix (NASDAQ:ATEX) Releases Earnings Results

Anterix (NASDAQ:ATEX) announced its quarterly earnings data on Tuesday. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05, FiscalAI reports. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The company had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.05 million.

Anterix Stock Up 2.1%

Anterix stock traded up $1.55 during mid-day trading on Wednesday, hitting $77.02. The company had a trading volume of 87,101 shares, compared to its average volume of 367,254. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 22.05 and a beta of 0.87. Anterix has a 1 year low of $17.90 and a 1 year high of $113.00. The business has a fifty day moving average of $81.56 and a 200 day moving average of $66.96.

Latest Anterix News

These are some of the ATEX news items that stood out recently:

• Positive Sentiment: Anterix reported a loss of $0.25 per share, narrower than the $0.30 loss expected by analysts. Anterix Q2 earnings results
• Negative Sentiment: Quarterly revenue was $1.96 million, below the $2.05 million consensus estimate. While revenue rose year over year, the company swung to a loss from a $0.14-per-share loss in the year-ago quarter, a combination that likely contributed to investor concern. Anterix falls as second-quarter revenue misses estimates

Insider Activity at Anterix

In other news, CFO Elena Marquez sold 4,981 shares of the company’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $80.43, for a total value of $400,621.83. Following the completion of the transaction, the chief financial officer owned 12,604 shares in the company, valued at approximately $1,013,739.72. This represents a 28.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott A. Lang sold 15,000 shares of the stock in a transaction on Monday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief executive officer directly owned 26,470 shares in the company, valued at $2,117,600. This trade represents a 36.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 124,841 shares of company stock valued at $10,975,765 in the last quarter. Company insiders own 40.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ATEX shares. Clear Str raised shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings lowered Anterix from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 26th. JPMorgan Chase & Co. cut their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, DA Davidson set a $161.00 price target on Anterix in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Anterix Company Profile

Anterix Inc. provides licensed wireless spectrum for private broadband networks, primarily serving electric, gas and water utilities and other critical-infrastructure organizations. Its business focuses on making 900 MHz spectrum available to customers that want dedicated communications networks for operational needs such as grid monitoring, automation and resilience. The company’s spectrum holdings cover areas across the United States. Anterix works with utilities and technology partners to support the development of private LTE networks, offering spectrum access and related planning and ecosystem support rather than operating a public mobile network.