Equities analysts expect that Boingo Wireless Inc (NASDAQ:WIFI) will post earnings of ($0.09) per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Boingo Wireless’ earnings, with estimates ranging from ($0.12) to ($0.05). Boingo Wireless reported earnings of ($0.01) per share in the same quarter last year, which would suggest a negative year over year growth rate of 800%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that Boingo Wireless will report full year earnings of ($0.30) per share for the current year, with EPS estimates ranging from ($0.38) to ($0.21). For the next fiscal year, analysts forecast that the company will report earnings of ($0.21) per share, with EPS estimates ranging from ($0.31) to ($0.07). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Boingo Wireless.
A number of brokerages have recently issued reports on WIFI. Craig Hallum dropped their target price on shares of Boingo Wireless from $29.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Northland Securities reaffirmed a “buy” rating on shares of Boingo Wireless in a report on Friday, August 2nd. ValuEngine raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. BidaskClub cut shares of Boingo Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday, June 29th. Finally, Credit Suisse Group set a $28.00 target price on shares of Boingo Wireless and gave the company a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.67.
Shares of WIFI stock traded up $0.43 on Wednesday, reaching $11.41. The stock had a trading volume of 42,589 shares, compared to its average volume of 820,955. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.88. The firm’s 50-day moving average is $15.88 and its two-hundred day moving average is $20.55. The firm has a market capitalization of $481.69 million, a price-to-earnings ratio of -380.33 and a beta of 1.01. Boingo Wireless has a 12 month low of $10.83 and a 12 month high of $35.98.
In other news, CFO Peter Hovenier sold 3,098 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $15.00, for a total value of $46,470.00. Following the sale, the chief financial officer now owns 380,711 shares of the company’s stock, valued at $5,710,665. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Finley purchased 10,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $11.00 per share, for a total transaction of $110,000.00. Following the transaction, the chief executive officer now owns 61,873 shares of the company’s stock, valued at $680,603. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 139,226 shares of company stock worth $2,507,248. Insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in shares of Boingo Wireless by 75.6% in the fourth quarter. Macquarie Group Ltd. now owns 2,067 shares of the technology company’s stock valued at $42,000 after purchasing an additional 890 shares during the period. Lindbrook Capital LLC bought a new stake in Boingo Wireless during the 1st quarter worth approximately $96,000. Legal & General Group Plc increased its holdings in Boingo Wireless by 13.7% during the 4th quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock worth $150,000 after acquiring an additional 882 shares during the period. Quantamental Technologies LLC bought a new stake in Boingo Wireless during the 1st quarter worth approximately $179,000. Finally, Tower Research Capital LLC TRC bought a new stake in Boingo Wireless during the 2nd quarter worth approximately $151,000.
About Boingo Wireless
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.
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