Wall Street analysts expect Boingo Wireless Inc (NASDAQ:WIFI) to post earnings per share of ($0.09) for the current quarter, according to Zacks. Five analysts have issued estimates for Boingo Wireless’ earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.15). Boingo Wireless posted earnings of ($0.02) per share in the same quarter last year, which suggests a negative year over year growth rate of 350%. The firm is expected to announce its next earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that Boingo Wireless will report full-year earnings of ($0.12) per share for the current financial year, with EPS estimates ranging from ($0.19) to ($0.05). For the next financial year, analysts expect that the company will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.37) to $0.12. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Boingo Wireless.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, November 1st. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. The company had revenue of $65.25 million for the quarter, compared to the consensus estimate of $63.32 million. Boingo Wireless had a negative net margin of 1.10% and a negative return on equity of 2.53%. Boingo Wireless’s revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share.
A number of research firms have weighed in on WIFI. Jefferies Financial Group increased their price target on shares of Boingo Wireless from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Zacks Investment Research downgraded shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. CIBC increased their price target on shares of Boingo Wireless from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. Roth Capital set a $40.00 price target on shares of Boingo Wireless and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Finally, Oppenheimer increased their price target on shares of Boingo Wireless from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.63.
NASDAQ:WIFI opened at $23.53 on Wednesday. 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 fifty-two week low of $20.02 and a fifty-two week high of $35.98.
In other news, CEO David Hagan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $25.53, for a total value of $382,950.00. Following the transaction, the chief executive officer now owns 521,314 shares of the company’s stock, valued at approximately $13,309,146.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter Hovenier sold 4,461 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $33.51, for a total transaction of $149,488.11. Following the completion of the transaction, the chief financial officer now directly owns 22,200 shares in the company, valued at approximately $743,922. The disclosure for this sale can be found here. In the last three months, insiders sold 128,794 shares of company stock worth $4,092,415. Insiders own 3.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in Boingo Wireless by 8.3% during the 2nd quarter. Northern Trust Corp now owns 538,077 shares of the technology company’s stock valued at $12,156,000 after purchasing an additional 41,243 shares in the last quarter. Chicago Equity Partners LLC grew its holdings in Boingo Wireless by 344.8% during the 3rd quarter. Chicago Equity Partners LLC now owns 77,400 shares of the technology company’s stock valued at $2,701,000 after purchasing an additional 60,000 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Boingo Wireless during the 2nd quarter valued at $228,000. Voya Investment Management LLC grew its holdings in Boingo Wireless by 65.6% during the 2nd quarter. Voya Investment Management LLC now owns 1,352,431 shares of the technology company’s stock valued at $30,551,000 after purchasing an additional 535,694 shares in the last quarter. Finally, Forsta AP Fonden acquired a new stake in Boingo Wireless during the 2nd quarter valued at $384,000. 92.48% of the stock is owned by institutional investors and hedge funds.
Boingo Wireless Company Profile
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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