Wall Street brokerages predict that Boingo Wireless, Inc. (NASDAQ:WIFI) will announce earnings per share (EPS) of ($0.14) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Boingo Wireless’ earnings, with estimates ranging from ($0.17) to ($0.12). Boingo Wireless reported earnings per share of ($0.15) during the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Boingo Wireless will report full year earnings of ($0.65) per share for the current financial year, with EPS estimates ranging from ($0.67) to ($0.63). For the next financial year, analysts forecast that the business will report earnings of ($0.46) per share, with EPS estimates ranging from ($0.58) to ($0.23). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Boingo Wireless.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $49 million during the quarter, compared to analyst estimates of $46.23 million. Boingo Wireless had a negative return on equity of 25.52% and a negative net margin of 13.85%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) earnings per share.
WIFI has been the topic of a number of research analyst reports. Credit Suisse Group boosted their price objective on shares of Boingo Wireless from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. BidaskClub raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Benchmark Co. initiated coverage on shares of Boingo Wireless in a research report on Tuesday, April 25th. They set a “buy” rating and a $18.00 price objective on the stock. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, July 5th. Finally, Craig Hallum boosted their price objective on shares of Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.26.
Boingo Wireless (NASDAQ:WIFI) traded down 1.45% during midday trading on Friday, reaching $18.37. 780,416 shares of the company’s stock were exchanged. The company’s market cap is $716.14 million. Boingo Wireless has a 12-month low of $8.10 and a 12-month high of $19.42. The firm has a 50-day moving average price of $15.37 and a 200 day moving average price of $13.92.
In related news, CEO David Hagan sold 25,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $15.08, for a total transaction of $377,000.00. Following the sale, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at approximately $9,377,543.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawn Callahan sold 100,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $15.90, for a total transaction of $1,590,000.00. Following the sale, the insider now directly owns 58,425 shares in the company, valued at $928,957.50. The disclosure for this sale can be found here. Insiders sold a total of 1,132,777 shares of company stock worth $17,590,592 over the last ninety days. Insiders own 7.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL purchased a new stake in shares of Boingo Wireless during the first quarter valued at approximately $134,000. Cambria Investment Management L.P. purchased a new stake in shares of Boingo Wireless during the first quarter valued at approximately $136,000. Legal & General Group Plc increased its stake in shares of Boingo Wireless by 3.9% in the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after buying an additional 341 shares during the period. Reliance Trust Co. of Delaware increased its stake in shares of Boingo Wireless by 9.6% in the first quarter. Reliance Trust Co. of Delaware now owns 11,339 shares of the technology company’s stock valued at $147,000 after buying an additional 990 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Boingo Wireless during the first quarter valued at approximately $159,000. 86.35% of the stock is currently owned by institutional investors.
About Boingo Wireless
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor Distributed Antenna System (DAS) services. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices.
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