Anterix (NASDAQ:ATEX) Posts Earnings Results, Beats Estimates By $1.40 EPS

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

Anterix Stock Performance

NASDAQ ATEX traded up $0.45 on Wednesday, hitting $65.00. 727,279 shares of the stock traded hands, compared to its average volume of 366,653. The business’s fifty day moving average is $51.36 and its two-hundred day moving average is $36.19. Anterix has a 12 month low of $17.58 and a 12 month high of $71.79. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.94 and a beta of 0.95.

Analyst Ratings Changes

A number of research analysts recently weighed in on ATEX shares. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and upped their price target for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. Weiss Ratings raised Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.50.

Institutional Investors Weigh In On Anterix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATEX. Millennium Management LLC raised its stake in Anterix by 1,153.1% in the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after acquiring an additional 404,838 shares during the period. Beartown Capital Management LLC bought a new position in shares of Anterix in the fourth quarter worth $3,165,000. Marshall Wace LLP boosted its holdings in shares of Anterix by 51.6% in the third quarter. Marshall Wace LLP now owns 286,581 shares of the company’s stock worth $6,153,000 after acquiring an additional 97,601 shares during the period. Atom Investors LP boosted its holdings in shares of Anterix by 196.9% in the fourth quarter. Atom Investors LP now owns 83,085 shares of the company’s stock worth $1,814,000 after acquiring an additional 55,097 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Anterix by 33.1% in the second quarter. Qube Research & Technologies Ltd now owns 203,144 shares of the company’s stock worth $5,211,000 after acquiring an additional 50,564 shares during the period. 87.67% of the stock is currently owned by institutional investors.

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.