Boingo Wireless (WIFI) Releases FY 2018 Earnings Guidance

Boingo Wireless (NASDAQ:WIFI) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $-0.24–0.12 for the period, compared to the Thomson Reuters consensus estimate of $-0.22. The company issued revenue guidance of $243-250 million, compared to the consensus revenue estimate of $249.04 million.Boingo Wireless also updated its FY18 guidance to $(0.24)-(0.12) EPS.

NASDAQ:WIFI traded down $5.28 on Friday, hitting $24.89. The stock had a trading volume of 2,502,827 shares, compared to its average volume of 529,434. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.07. Boingo Wireless has a 52 week low of $20.02 and a 52 week high of $35.98.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings results on Thursday, November 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. The business had revenue of $65.25 million for the quarter, compared to analyst estimates of $63.32 million. Boingo Wireless had a negative return on equity of 2.58% and a negative net margin of 1.10%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) earnings per share. On average, research analysts expect that Boingo Wireless will post -0.17 earnings per share for the current fiscal year.

WIFI has been the topic of several recent research reports. BidaskClub upgraded Boingo Wireless from a hold rating to a buy rating in a report on Friday, July 6th. Zacks Investment Research upgraded Boingo Wireless from a sell rating to a hold rating in a report on Friday, July 20th. Craig Hallum raised their target price on Boingo Wireless from $30.00 to $31.00 and gave the company a buy rating in a report on Thursday, August 2nd. Roth Capital set a $32.00 target price on Boingo Wireless and gave the company a buy rating in a report on Thursday, August 2nd. Finally, Jefferies Financial Group raised their target price on Boingo Wireless from $33.00 to $38.00 and gave the company a buy rating in a report on Monday, August 20th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $37.25.

In related news, CFO Peter Hovenier sold 9,785 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $33.77, for a total transaction of $330,439.45. Following the completion of the sale, the chief financial officer now directly owns 28,785 shares of the company’s stock, valued at $972,069.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Hagan sold 59,500 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $31.01, for a total value of $1,845,095.00. Following the sale, the chief executive officer now directly owns 606,481 shares of the company’s stock, valued at $18,806,975.81. The disclosure for this sale can be found here. Insiders sold 279,865 shares of company stock worth $8,943,560 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

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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Earnings History and Estimates for Boingo Wireless (NASDAQ:WIFI)

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