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Strength Seen in Anterix (ATEX): Can Its 10.3% Jump Turn into More Strength?
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Anterix (ATEX - Free Report) shares rallied 10.3% in the last trading session to close at $25.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.2% gain over the past four weeks.
The uptrend was primarily attributable to FCC's decision to vote on the prospect of maximizing the potential of the 900 MHz band by enabling broadband deployment across all 10 MHz of the band. This is likely to expand broadband use and create new opportunities for utilities and critical infrastructure providers like ATEX.
This wireless communications company is expected to post quarterly loss of $0.57 per share in its upcoming report, which represents a year-over-year change of -23.9%. Revenues are expected to be $1.53 million, down 2.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with 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 belongs to the Zacks Communication - Infrastructure industry. Another stock from the same industry, Bandwidth (BAND - Free Report) , closed the last trading session 2.1% lower at $14.15. Over the past month, BAND has returned -6.4%.
For Bandwidth, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of -5.4% from what the company reported a year ago. Bandwidth currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Anterix (ATEX): Can Its 10.3% Jump Turn into More Strength?
Anterix (ATEX - Free Report) shares rallied 10.3% in the last trading session to close at $25.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.2% gain over the past four weeks.
The uptrend was primarily attributable to FCC's decision to vote on the prospect of maximizing the potential of the 900 MHz band by enabling broadband deployment across all 10 MHz of the band. This is likely to expand broadband use and create new opportunities for utilities and critical infrastructure providers like ATEX.
This wireless communications company is expected to post quarterly loss of $0.57 per share in its upcoming report, which represents a year-over-year change of -23.9%. Revenues are expected to be $1.53 million, down 2.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with 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 belongs to the Zacks Communication - Infrastructure industry. Another stock from the same industry, Bandwidth (BAND - Free Report) , closed the last trading session 2.1% lower at $14.15. Over the past month, BAND has returned -6.4%.
For Bandwidth, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of -5.4% from what the company reported a year ago. Bandwidth currently has a Zacks Rank of #4 (Sell).