Wall Street brokerages expect that Boingo Wireless Inc (NASDAQ:WIFI) will report earnings per share of ($0.16) for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Boingo Wireless’ earnings, with the lowest EPS estimate coming in at ($0.19) and the highest estimate coming in at ($0.10). Boingo Wireless posted earnings per share of ($0.18) in the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The firm is scheduled to report its next quarterly earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Boingo Wireless will report full year earnings of ($0.41) per share for the current year, with EPS estimates ranging from ($0.45) to ($0.32). For the next year, analysts expect that the business will report earnings of ($0.22) per share, with EPS estimates ranging from ($0.36) to ($0.14). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Boingo Wireless.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Boingo Wireless from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub raised shares of Boingo Wireless from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Northland Securities reissued a “buy” rating on shares of Boingo Wireless in a report on Thursday, March 1st. Lake Street Capital reissued a “buy” rating and set a $30.00 target price (up previously from $26.00) on shares of Boingo Wireless in a report on Wednesday, February 28th. Finally, Jefferies Group boosted their target price on shares of Boingo Wireless to $32.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Boingo Wireless has an average rating of “Buy” and an average price target of $28.39.
In other news, insider Dawn Callahan sold 11,437 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $22.85, for a total value of $261,335.45. Following the transaction, the insider now owns 11,370 shares of the company’s stock, valued at $259,804.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter Hovenier sold 50,000 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $27.60, for a total transaction of $1,380,000.00. Following the completion of the transaction, the chief financial officer now directly owns 31,730 shares in the company, valued at approximately $875,748. The disclosure for this sale can be found here. In the last ninety days, insiders sold 295,103 shares of company stock worth $7,097,730. Insiders own 7.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WIFI. Wells Fargo & Company MN increased its holdings in shares of Boingo Wireless by 17.1% in the second quarter. Wells Fargo & Company MN now owns 44,623 shares of the technology company’s stock worth $668,000 after purchasing an additional 6,504 shares during the period. Northern Trust Corp increased its holdings in shares of Boingo Wireless by 4.4% in the second quarter. Northern Trust Corp now owns 437,087 shares of the technology company’s stock worth $6,539,000 after purchasing an additional 18,228 shares during the period. Vanguard Group Inc. increased its holdings in shares of Boingo Wireless by 19.0% in the second quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock worth $30,563,000 after purchasing an additional 326,791 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Boingo Wireless by 239.5% in the second quarter. Parametric Portfolio Associates LLC now owns 68,761 shares of the technology company’s stock worth $1,029,000 after purchasing an additional 48,505 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Boingo Wireless by 1.3% in the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock worth $156,000 after purchasing an additional 135 shares during the period. 92.32% of the stock is currently owned by hedge funds and other institutional investors.
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Boingo Wireless Company Profile
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (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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