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Anterix (ATEX) Stock Jumps 11.3%: Will It Continue to Soar?
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Anterix (ATEX - Free Report) shares soared 11.3% in the last trading session to close at $38.35. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.5% loss over the past four weeks.
Anterix has inked an agreement with Xcel Energy Services Inc., a subsidiary of Xcel Energy Inc., to offer its 900 MHz spectrum to Xcel Energy for use in eight western and midwestern states. The dedicated use of the 900 MHz spectrum for 20 years, with two optional ten-year extensions, will enable Xcel Energy to deploy a private LTE network. This, in turn, will support Xcel Energy's grid modernization initiatives for the benefit of its 3.7 million electricity customers and 2.1 million natural gas customers.
This wireless communications company is expected to post quarterly loss of $0.76 per share in its upcoming report, which represents a year-over-year change of -13.4%. Revenues are expected to be $0.58 million, up 220% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Anterix, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ATEX going forward to see if this recent jump can turn into more strength down the road.
Anterix is part of the Zacks Communication - Infrastructure industry. IHS Holding (IHS - Free Report) , another stock in the same industry, closed the last trading session 0.5% higher at $5.97. IHS has returned 6.5% in the past month.
For IHS Holding, the consensus EPS estimate for the upcoming report has changed -5.9% over the past month to $0.13. This represents a change of +230% from what the company reported a year ago. IHS Holding currently has a Zacks Rank of #5 (Strong Sell).
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Anterix (ATEX) Stock Jumps 11.3%: Will It Continue to Soar?
Anterix (ATEX - Free Report) shares soared 11.3% in the last trading session to close at $38.35. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.5% loss over the past four weeks.
Anterix has inked an agreement with Xcel Energy Services Inc., a subsidiary of Xcel Energy Inc., to offer its 900 MHz spectrum to Xcel Energy for use in eight western and midwestern states. The dedicated use of the 900 MHz spectrum for 20 years, with two optional ten-year extensions, will enable Xcel Energy to deploy a private LTE network. This, in turn, will support Xcel Energy's grid modernization initiatives for the benefit of its 3.7 million electricity customers and 2.1 million natural gas customers.
This wireless communications company is expected to post quarterly loss of $0.76 per share in its upcoming report, which represents a year-over-year change of -13.4%. Revenues are expected to be $0.58 million, up 220% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Anterix, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ATEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Anterix is part of the Zacks Communication - Infrastructure industry. IHS Holding (IHS - Free Report) , another stock in the same industry, closed the last trading session 0.5% higher at $5.97. IHS has returned 6.5% in the past month.
For IHS Holding, the consensus EPS estimate for the upcoming report has changed -5.9% over the past month to $0.13. This represents a change of +230% from what the company reported a year ago. IHS Holding currently has a Zacks Rank of #5 (Strong Sell).