Boingo Wireless (NASDAQ:WIFI) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $-0.45–0.34 for the period, compared to the Thomson Reuters consensus estimate of $-0.39. The company issued revenue guidance of $270-280 million, compared to the consensus revenue estimate of $277.42 million.Boingo Wireless also updated its FY19 guidance to (0.45-0.34) EPS.
WIFI traded down $1.01 during trading on Friday, hitting $13.20. The company’s stock had a trading volume of 1,796,332 shares, compared to its average volume of 778,241. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.89. Boingo Wireless has a twelve month low of $12.60 and a twelve month high of $35.98. The business’s fifty day moving average price is $17.77. The company has a market cap of $660.66 million, a price-to-earnings ratio of -440.00 and a beta of 1.01.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Boingo Wireless had a negative net margin of 1.21% and a negative return on equity of 2.82%. The business had revenue of $66.47 million during the quarter, compared to analyst estimates of $65.74 million. Equities research analysts forecast that Boingo Wireless will post -0.38 earnings per share for the current year.
WIFI has been the topic of several research analyst reports. Northland Securities reissued a buy rating on shares of Boingo Wireless in a report on Friday. ValuEngine raised Boingo Wireless from a sell rating to a hold rating in a report on Friday. Zacks Investment Research raised Boingo Wireless from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Saturday. Oppenheimer dropped their price objective on Boingo Wireless to $23.00 and set an outperform rating on the stock in a report on Friday. Finally, Craig Hallum dropped their price objective on Boingo Wireless from $29.00 to $22.00 and set a buy rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $29.78.
In other news, Director David Hagan sold 98,346 shares of Boingo Wireless stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $18.15, for a total value of $1,784,979.90. Following the sale, the director now directly owns 1,056,229 shares of the company’s stock, valued at $19,170,556.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter Hovenier sold 5,000 shares of Boingo Wireless stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.80, for a total value of $89,000.00. Following the completion of the sale, the chief financial officer now directly owns 380,723 shares in the company, valued at $6,776,869.40. The disclosure for this sale can be found here. Insiders sold 147,756 shares of company stock worth $2,713,919 over the last ninety 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 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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