Boston Omaha (NYSE:BOC) Releases Earnings Results, Misses Estimates By $0.05 EPS

Boston Omaha (NYSE:BOC) issued its quarterly earnings data on Thursday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05), FiscalAI reports. The company had revenue of $28.21 million for the quarter, compared to the consensus estimate of $28.85 million. Boston Omaha had a negative net margin of 0.21% and a negative return on equity of 0.04%.

Boston Omaha Trading Down 6.5%

NYSE:BOC opened at $11.52 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.05 and a quick ratio of 2.05. Boston Omaha has a fifty-two week low of $11.30 and a fifty-two week high of $15.75. The stock’s 50-day moving average is $13.23 and its two-hundred day moving average is $13.73. The stock has a market cap of $362.15 million, a PE ratio of 383.83 and a beta of 1.00.

Wall Street Analysts Forecast Growth

BOC has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Boston Omaha in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Boston Omaha from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake 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 buying an additional 815 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Boston Omaha during the 1st quarter valued at $176,000. Jane Street Group LLC increased its stake in shares of Boston Omaha by 104.7% in the first quarter. Jane Street Group LLC now owns 87,917 shares of the company’s stock worth $1,282,000 after acquiring an additional 44,968 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Boston Omaha by 15.5% during the second quarter. American Century Companies Inc. now owns 52,247 shares of the company’s stock worth $734,000 after acquiring an additional 7,018 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Boston Omaha during the second quarter worth $2,214,000. 60.36% of the stock is owned by hedge funds and other institutional investors.

About Boston Omaha

Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States. It is also involved in the surety insurance and related brokerage, broadband, and asset management businesses. The company was formerly known as REO Plus, Inc and changed its name to Boston Omaha Corporation in March 2015.