Boston Omaha (NYSE:BOC) Posts Earnings Results, Misses Estimates By $0.05 EPS

Boston Omaha (NYSE:BOC) announced its quarterly earnings data on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05), Zacks reports. The company had revenue of $27.09 million for the quarter, compared to the consensus estimate of $27.10 million. Boston Omaha had a negative net margin of 6.56% and a negative return on equity of 1.08%.

Boston Omaha Price Performance

BOC stock traded up $0.54 during midday trading on Thursday, hitting $13.77. The company’s stock had a trading volume of 152,959 shares, compared to its average volume of 174,519. Boston Omaha has a 12 month low of $12.41 and a 12 month high of $18.11. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $433.19 million, a price-to-earnings ratio of -64.71 and a beta of 0.80. The company has a 50 day moving average of $13.64 and a two-hundred day moving average of $14.81.

Insider Buying and Selling

In other Boston Omaha news, major shareholder Omaha Corp Boston sold 246,389 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $10.00, for a total transaction of $2,463,890.00. Following the completion of the transaction, the insider now owns 12,440,642 shares in the company, valued at $124,406,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Omaha Corp Boston sold 246,389 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $10.00, for a total transaction of $2,463,890.00. Following the sale, the insider now directly owns 12,440,642 shares in the company, valued at approximately $124,406,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank H. Kenan II purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $14.03 per share, with a total value of $420,900.00. Following the transaction, the director now owns 197,804 shares of the company’s stock, valued at approximately $2,775,190.12. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 81,622 shares of company stock worth $1,150,008. 26.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their target price on shares of Boston Omaha from $23.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, May 20th.

Boston Omaha Company Profile

Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States. It is also involved in the surety insurance and related brokerage, broadband, and asset management businesses. The company was formerly known as REO Plus, Inc and changed its name to Boston Omaha Corporation in March 2015.