Anterix (NASDAQ:ATEX) Issues Quarterly Earnings Results

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

Anterix Stock Up 0.7%

Anterix stock traded up $0.45 during trading hours on Wednesday, hitting $65.00. 727,329 shares of the company traded hands, compared to its average volume of 366,653. The firm has a market cap of $1.22 billion, a P/E ratio of 14.94 and a beta of 0.95. The firm’s 50-day simple moving average is $51.36 and its two-hundred day simple moving average is $36.19. Anterix has a 1-year low of $17.58 and a 1-year high of $71.79.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in shares of Anterix by 299.3% in 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. BNP Paribas Financial Markets increased its stake in shares of Anterix by 119.3% in 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. Quantbot Technologies LP acquired a new position in shares of Anterix in the third quarter worth $57,000. Virtus Advisers LLC acquired a new position in shares of Anterix in the third quarter worth $75,000. Finally, Toronto Dominion Bank bought a new stake in shares of Anterix in the 4th quarter valued at approximately $94,000. Institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

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.