Anterix ATEX shares ended the last trading session 11.4% higher at $30.99. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.7% loss over the past four weeks.

Anterix is witnessing growing demand for its broadband solutions in several end markets including energy, transportation and more. Lower Colorado River Authority is set to purchase an additional 900 MHz spectrum wireless broadband licenses to support its growth initiatives in the Texas region.

FCC recently approved the Notice of Proposed Rulemaking to modify the existing 900 MHz broadband rules. The adoption of the proposed rules will allow the broadband segment to expand to 5/5 MHz from the current 3/3 MHz. This spectrum expansion is crucial to match the increasing demand for wide area, private wireless broadband networks for the utility sector, critical infrastructure and other business entities. Anterix’s portfolio is expected to gain from the proposed expansion of the 900 MHz spectrum. These factors have instilled investor optimism, which probably propelled the share price appreciation.

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 -3.6%. Revenues are expected to be $1.64 million, up 29.1% 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, another stock in the same industry, closed the last trading session 0.6% higher at $3.21. IHS has returned 3.6% in the past month.

IHS Holding's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. Compared to the company's year-ago EPS, this represents a change of -82.6%. IHS Holding currently boasts a Zacks Rank of #3 (Hold).

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