Anterix (NASDAQ:ATEX) Announces Earnings Results, Beats Expectations By $1.40 EPS

Anterix (NASDAQ:ATEX) released its quarterly earnings data on Wednesday. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $1.40, FiscalAI reports. The company had revenue of $1.96 million during the quarter, compared to the consensus estimate of $1.57 million. Anterix had a net margin of 1,370.92% and a negative return on equity of 12.26%.

Anterix Stock Up 0.4%

Shares of NASDAQ ATEX opened at $64.78 on Thursday. Anterix has a 52 week low of $17.58 and a 52 week high of $71.79. The firm has a 50-day moving average price of $51.93 and a 200 day moving average price of $36.51. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 14.89 and a beta of 0.95.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ATEX. Weiss Ratings raised shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and increased their target price for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.50.

Institutional Investors Weigh In On Anterix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Anterix by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock worth $3,027,000 after buying an additional 599 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Anterix by 12.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after acquiring an additional 637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Anterix by 17.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after acquiring an additional 1,029 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Anterix by 299.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after acquiring an additional 1,233 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after acquiring an additional 1,308 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

About Anterix

Anterix, Inc is a specialized telecommunications company focused on delivering private broadband networks for utilities and other critical infrastructure industries. The company owns and operates dedicated 900 MHz spectrum that enables reliable, secure and high-performance wireless communications to support grid modernization, smart metering, distribution automation and other mission-critical applications. By leveraging this spectrum, Anterix helps electric, water and gas utilities deploy advanced communications capabilities to enhance operational efficiency and resiliency.

At the core of Anterix’s offering is its licensed 900 MHz spectrum, which provides superior propagation characteristics compared with unlicensed options and allows for cost-effective coverage over expansive service territories.