Boston Omaha (NYSE:BOC) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Boston Omaha (NYSE:BOC) issued its quarterly earnings data on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04), FiscalAI reports. The firm had revenue of $28.25 million for the quarter, compared to analysts’ expectations of $29.20 million. Boston Omaha had a negative return on equity of 2.26% and a negative net margin of 10.86%.

Boston Omaha Trading Up 3.2%

NYSE:BOC traded up $0.36 during midday trading on Thursday, hitting $11.58. 246,685 shares of the company traded hands, compared to its average volume of 153,149. The firm’s fifty day moving average is $12.16 and its 200-day moving average is $12.45. Boston Omaha has a 12-month low of $10.90 and a 12-month high of $15.10. The firm has a market capitalization of $355.28 million, a P/E ratio of -29.70 and a beta of 0.67. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.09.

Institutional Trading of Boston Omaha

Several hedge funds and other institutional investors have recently bought and sold shares of BOC. Nitor Capital Management LLC purchased a new stake in Boston Omaha during the 4th quarter valued at $4,581,000. First Manhattan CO. LLC. purchased a new stake in Boston Omaha during the 4th quarter valued at $4,131,000. Arrowstreet Capital Limited Partnership purchased a new stake in Boston Omaha in the second quarter worth $2,214,000. Jane Street Group LLC increased its stake in Boston Omaha by 104.7% in the first quarter. Jane Street Group LLC now owns 87,917 shares of the company’s stock worth $1,282,000 after purchasing an additional 44,968 shares during the period. Finally, Two Sigma Investments LP increased its stake in Boston Omaha by 82.8% in the third quarter. Two Sigma Investments LP now owns 96,225 shares of the company’s stock worth $1,259,000 after purchasing an additional 43,588 shares during the period. Hedge funds and other institutional investors own 60.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BOC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Boston Omaha in a report on Friday, March 27th. Wall Street Zen raised Boston Omaha from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

About Boston Omaha

Boston Omaha Corporation is a publicly traded holding company headquartered in Omaha, Nebraska. Since its founding in 2015, the company has focused on acquiring and operating growth-oriented businesses in industries with attractive demand characteristics. Boston Omaha’s diversified platform includes middle-mile fiber networks, greenhouse agriculture operations and automotive finance services.

In its telecommunications segment, Boston Omaha develops and operates fiber-based, middle-mile networks that connect carriers, internet service providers and enterprise customers.