Boingo Wireless (NASDAQ:WIFI) – Oppenheimer decreased their Q1 2018 earnings per share (EPS) estimates for Boingo Wireless in a report released on Wednesday, April 11th. Oppenheimer analyst T. Horan now forecasts that the technology company will earn ($0.14) per share for the quarter, down from their previous forecast of ($0.10). Oppenheimer also issued estimates for Boingo Wireless’ Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at ($0.09) EPS, Q4 2018 earnings at ($0.09) EPS, FY2018 earnings at ($0.41) EPS and FY2019 earnings at ($0.32) EPS.
WIFI has been the topic of several other research reports. BidaskClub raised Boingo Wireless from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. ValuEngine raised Boingo Wireless from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Jefferies Group upped their price objective on Boingo Wireless to $32.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Lake Street Capital reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $26.00) on shares of Boingo Wireless in a report on Wednesday, February 28th. Finally, Zacks Investment Research downgraded Boingo Wireless from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $28.39.
NASDAQ WIFI opened at $24.41 on Friday. Boingo Wireless has a one year low of $13.29 and a one year high of $28.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $1,034.27, a P/E ratio of -49.82 and a beta of 0.62.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.09. The business had revenue of $57.35 million for the quarter, compared to analyst estimates of $54.48 million. Boingo Wireless had a negative return on equity of 20.09% and a negative net margin of 9.40%.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Boingo Wireless by 4.0% in the 4th quarter. BlackRock Inc. now owns 3,755,061 shares of the technology company’s stock valued at $84,487,000 after purchasing an additional 144,367 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Boingo Wireless by 15.2% in the 4th quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the technology company’s stock valued at $67,523,000 after purchasing an additional 395,200 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Boingo Wireless by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,995,174 shares of the technology company’s stock valued at $42,638,000 after purchasing an additional 42,749 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Boingo Wireless by 8.4% in the 4th quarter. Hood River Capital Management LLC now owns 1,155,233 shares of the technology company’s stock valued at $25,993,000 after purchasing an additional 89,465 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Boingo Wireless by 99.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,113,217 shares of the technology company’s stock valued at $25,047,000 after purchasing an additional 555,471 shares during the period. 91.12% of the stock is currently owned by institutional investors.
In other news, VP Tom Tracey sold 25,000 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $25.87, for a total value of $646,750.00. Following the transaction, the vice president now owns 49,818 shares of the company’s stock, valued at approximately $1,288,791.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David Hagan sold 19,833 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $22.18, for a total value of $439,895.94. Following the completion of the transaction, the chief executive officer now directly owns 606,186 shares in the company, valued at approximately $13,445,205.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 374,352 shares of company stock worth $9,439,720. Company insiders own 7.70% of the company’s stock.
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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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