Equities analysts predict that Boingo Wireless Inc (NASDAQ:WIFI) will report earnings per share (EPS) of ($0.10) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Boingo Wireless’ earnings. The lowest EPS estimate is ($0.15) and the highest is ($0.03). Boingo Wireless reported earnings per share of ($0.08) during the same quarter last year, which indicates a negative year over year growth rate of 25%. The company is scheduled to announce its next earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that Boingo Wireless will report full-year earnings of ($0.31) per share for the current financial year, with EPS estimates ranging from ($0.47) to $0.06. For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.39) to $0.23. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Boingo Wireless.
A number of analysts have recently weighed in on the company. ValuEngine lowered Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. BidaskClub lowered Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Roth Capital reissued a “buy” rating on shares of Boingo Wireless in a research note on Friday, March 1st. Northland Securities set a $35.00 price objective on Boingo Wireless and gave the company a “buy” rating in a research note on Thursday, February 28th. Finally, Credit Suisse Group dropped their price objective on Boingo Wireless from $35.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, February 28th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $34.11.
In related news, CFO Peter Hovenier sold 45,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $25.21, for a total value of $1,134,450.00. Following the completion of the sale, the chief financial officer now owns 450,723 shares of the company’s stock, valued at $11,362,726.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Hagan sold 30,000 shares of the firm’s stock in a transaction on Friday, January 11th. The stock was sold at an average price of $22.28, for a total value of $668,400.00. Following the completion of the sale, the chief executive officer now directly owns 490,314 shares of the company’s stock, valued at approximately $10,924,195.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,000 shares of company stock valued at $3,486,750. Insiders own 3.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Boingo Wireless by 7.0% in the third quarter. Vanguard Group Inc. now owns 3,304,762 shares of the technology company’s stock worth $115,336,000 after acquiring an additional 217,283 shares during the period. FMR LLC purchased a new stake in Boingo Wireless in the third quarter worth $103,292,000. Commonwealth Equity Services LLC lifted its stake in Boingo Wireless by 50.3% in the third quarter. Commonwealth Equity Services LLC now owns 39,680 shares of the technology company’s stock worth $1,384,000 after acquiring an additional 13,283 shares during the period. Bank of Montreal Can lifted its stake in Boingo Wireless by 2,090.1% in the fourth quarter. Bank of Montreal Can now owns 230,463 shares of the technology company’s stock worth $4,740,000 after acquiring an additional 219,940 shares during the period. Finally, Chicago Equity Partners LLC lifted its stake in Boingo Wireless by 344.8% in the third quarter. Chicago Equity Partners LLC now owns 77,400 shares of the technology company’s stock worth $2,701,000 after acquiring an additional 60,000 shares during the period. 92.68% of the stock is owned by institutional investors.
Shares of WIFI opened at $20.42 on Thursday. The company has a market capitalization of $868.08 million, a price-to-earnings ratio of -680.67 and a beta of 1.07. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Boingo Wireless has a 1 year low of $18.50 and a 1 year high of $35.98.
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. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.
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