Anterix (NASDAQ:ATEX) Issues Earnings Results

Key Points

• Anterix reported quarterly EPS of -$0.25, beating the consensus estimate of -$0.30. Revenue was $1.96 million, below analyst expectations of $2.05 million.
• Shares fell 6.6% to $75.47 in Tuesday midday trading.
• Analysts’ average rating was “Moderate Buy,” with a $120 average price target; company insiders sold 124,841 shares worth about $10.98 million over the last quarter.

Anterix (NASDAQ:ATEX - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.05, FiscalAI reports. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. The firm had revenue of $1.96 million during the quarter, compared to analyst estimates of $2.05 million.

Anterix Stock Down 6.6%

Shares of NASDAQ ATEX traded down $5.31 during midday trading on Tuesday, reaching $75.47. The company had a trading volume of 323,962 shares, compared to its average volume of 368,608. Anterix has a one year low of $17.82 and a one year high of $113.00. The firm's fifty day moving average price is $81.87 and its 200-day moving average price is $66.70. The stock has a market cap of $1.48 billion, a PE ratio of 21.56 and a beta of 0.87.

Analyst Upgrades and Downgrades

ATEX has been the topic of a number of research reports. Clear Str raised Anterix to a "strong-buy" rating in a report on Monday, July 27th. Wall Street Zen lowered Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. DA Davidson set a $161.00 price target on shares of Anterix in a research report on Friday, August 21st. JPMorgan Chase & Co. decreased their price target on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Anterix from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.00.

Insider Buying and Selling at Anterix

In other Anterix news, CMO Heather Martin sold 8,064 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $84.20, for a total value of $678,988.80. Following the completion of the sale, the chief marketing officer owned 26,743 shares in the company, valued at approximately $2,251,760.60. The trade was a 23.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott A. Lang sold 15,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $80.00, for a total value of $1,200,000.00. Following the sale, the chief executive officer directly owned 26,470 shares of the company's stock, valued at approximately $2,117,600. This trade represents a 36.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 124,841 shares of company stock worth $10,975,765 over the last quarter. Company insiders own 40.05% of the company's stock.

Anterix Company Profile

Anterix Inc. provides licensed wireless spectrum for private broadband networks, primarily serving electric, gas and water utilities and other critical-infrastructure organizations. Its business focuses on making 900 MHz spectrum available to customers that want dedicated communications networks for operational needs such as grid monitoring, automation and resilience. The company's spectrum holdings cover areas across the United States. Anterix works with utilities and technology partners to support the development of private LTE networks, offering spectrum access and related planning and ecosystem support rather than operating a public mobile network.

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