Boston Omaha (NYSE:BOC) Releases Earnings Results, Misses Expectations By $0.02 EPS

Boston Omaha (NYSE:BOC) announced its earnings results on Thursday. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02), FiscalAI reports. The company had revenue of $22.20 million for the quarter, compared to analysts’ expectations of $29.50 million. Boston Omaha had a negative net margin of 12.10% and a negative return on equity of 2.57%.

Boston Omaha Stock Down 0.9%

Shares of BOC traded down $0.13 during mid-day trading on Thursday, hitting $14.30. 74,210 shares of the company’s stock were exchanged, compared to its average volume of 163,883. The stock has a market cap of $434.69 million, a price-to-earnings ratio of -32.50 and a beta of 0.67. The firm has a fifty day moving average of $13.98 and a two-hundred day moving average of $12.88. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.09. Boston Omaha has a twelve month low of $10.52 and a twelve month high of $15.22.

Insiders Place Their Bets

In related news, Director Frank H. Kenan II bought 6,033 shares of the business’s stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $12.89 per share, for a total transaction of $77,765.37. Following the completion of the acquisition, the director directly owned 315,991 shares in the company, valued at approximately $4,073,123.99. This represents a 1.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey C. Royal purchased 10,000 shares of Boston Omaha stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $12.72 per share, with a total value of $127,200.00. Following the transaction, the director directly owned 69,644 shares of the company’s stock, valued at approximately $885,871.68. The trade was a 16.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 81,798 shares of company stock valued at $1,064,068 over the last quarter. 24.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Omaha

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in Boston Omaha by 6.3% in the 1st quarter. AQR Capital Management LLC now owns 13,849 shares of the company’s stock valued at $202,000 after acquiring an additional 815 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Boston Omaha by 6.1% during the second quarter. Raymond James Financial Inc. now owns 14,763 shares of the company’s stock valued at $207,000 after purchasing an additional 843 shares during the period. State Street Corp raised its stake in shares of Boston Omaha by 0.3% in the fourth quarter. State Street Corp now owns 468,665 shares of the company’s stock valued at $5,797,000 after purchasing an additional 1,425 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Boston Omaha by 16.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,117 shares of the company’s stock valued at $163,000 after purchasing an additional 1,866 shares in the last quarter. Finally, Aquatic Capital Management LLC lifted its position in Boston Omaha by 15.0% in the third quarter. Aquatic Capital Management LLC now owns 23,793 shares of the company’s stock worth $311,000 after purchasing an additional 3,101 shares during the period. Institutional investors own 60.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BOC. Weiss Ratings raised shares of Boston Omaha from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 15th. Wall Street Zen raised Boston Omaha from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Boston Omaha

Boston Omaha Corporation is a publicly traded holding company headquartered in Omaha, Nebraska. Since its founding in 2015, the company has focused on acquiring and operating growth-oriented businesses in industries with attractive demand characteristics. Boston Omaha’s diversified platform includes middle-mile fiber networks, greenhouse agriculture operations and automotive finance services.

In its telecommunications segment, Boston Omaha develops and operates fiber-based, middle-mile networks that connect carriers, internet service providers and enterprise customers.