Anterix (NASDAQ:ATEX) Releases Earnings Results, Beats Estimates By $0.05 EPS

Anterix (NASDAQ:ATEX) announced its quarterly earnings data on Tuesday. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.05, FiscalAI reports. The company had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $2.05 million. Anterix had a negative return on equity of 11.34% and a net margin of 96.23%.

Anterix Stock Up 12.6%

Shares of ATEX stock traded up $9.62 on Thursday, reaching $86.15. The stock had a trading volume of 78,052 shares, compared to its average volume of 367,571. The firm’s 50-day moving average is $81.30 and its two-hundred day moving average is $67.22. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 220.68 and a beta of 0.87. Anterix has a 12 month low of $18.93 and a 12 month high of $113.00.

Analyst Upgrades and Downgrades

ATEX has been the subject of several recent research reports. Wall Street Zen cut Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. decreased their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Weiss Ratings lowered Anterix from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday. B. Riley Financial upgraded Anterix from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $103.00 in a research note on Thursday. Finally, Clear Str raised Anterix to a “strong-buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.33.

Key Headlines Impacting Anterix

Here are a few of the latest headlines about ATEX:

• Positive Sentiment: B. Riley upgraded Anterix from “neutral” to “buy” and raised its price target to $103 from $86, citing a more favorable outlook for the shares. B. Riley stock recommendations
• Positive Sentiment: Management highlighted 16 active business opportunities, $107.5 million in cash and flexibility, and the scarcity of suitable spectrum. The pipeline and strong balance sheet may support future growth, although the opportunities are not yet guaranteed contracts. Anterix signals 16 active opportunities
• Neutral Sentiment: Fiscal Q2 loss was $0.25 per share, narrower than analyst estimates, but revenue of about $1.96 million fell short of expectations near $2.05 million. The company also swung to a loss from a $0.14-per-share loss a year earlier. Anterix Q2 results

Insider Buying and Selling at Anterix

In other Anterix news, Director William Heard sold 46,400 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the transaction, the director owned 1,670,338 shares of the company’s stock, valued at $150,514,157.18. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Guttman-Mccabe sold 23,439 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total value of $2,164,826.04. Following the transaction, the insider directly owned 44,876 shares in the company, valued at approximately $4,144,747.36. This trade represents a 34.31% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 124,841 shares of company stock valued at $10,975,765 in the last three months. Corporate insiders own 40.05% of the company’s stock.

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.