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Anterix (ATEX) Moves 12.3% Higher: Will This Strength Last?

Anterix (ATEX) shares rallied 12.3% in the last trading session to close at $33.32. 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 10.1% loss over the past four weeks.

Anterix reportedly holds the largest licensed spectrum in the 900 MHz band, with coverage throughout the United States, Alaska, Hawaii and Puerto Rico. It expects to monetize its spectrum assets to generate long-term value.

Anterix recently authorized a new share repurchase program to buy back up to $250 million worth of its outstanding shares over a three-year period. The share buyback program is an extension of the strategic objective of the company to reward its shareholders with risk-adjusted returns.

This wireless communications company is expected to post quarterly loss of $0.64 per share in its upcoming report, which represents a year-over-year change of -14.3%. Revenues are expected to be $1.09 million, up 171.5% 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), closed the last trading session 2.7% lower at $11.44. Over the past month, BAND has returned -10.3%.

For Bandwidth , the consensus EPS estimate for the upcoming report has changed -21.7% over the past month to $0.20. This represents a change of -25.9% from what the company reported a year ago. Bandwidth currently has a Zacks Rank of #3 (Hold).

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