Equities research analysts expect that Boingo Wireless (NASDAQ:WIFI) will announce earnings per share (EPS) of ($0.17) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Boingo Wireless’ earnings, with estimates ranging from ($0.19) to ($0.14). Boingo Wireless posted earnings of ($0.18) per share during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is expected to announce its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Boingo Wireless will report full year earnings of ($0.43) per share for the current financial year, with EPS estimates ranging from ($0.45) to ($0.41). For the next financial year, analysts expect that the business will report earnings of ($0.26) per share, with EPS estimates ranging from ($0.36) to ($0.14). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Boingo Wireless.
Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Tuesday, February 27th. The technology company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.09. The business had revenue of $57.35 million during the quarter, compared to the consensus estimate of $54.48 million. Boingo Wireless had a negative return on equity of 20.09% and a negative net margin of 9.40%.
WIFI has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Boingo Wireless in a research report on Monday, March 12th. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, March 8th. Northland Securities reaffirmed a “buy” rating on shares of Boingo Wireless in a research report on Thursday, March 1st. BidaskClub downgraded Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Friday, March 30th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $32.00 price objective (up previously from $27.00) on shares of Boingo Wireless in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Boingo Wireless has an average rating of “Buy” and an average price target of $28.39.
Shares of NASDAQ:WIFI traded up $0.13 during midday trading on Wednesday, reaching $24.54. The company’s stock had a trading volume of 22,414 shares, compared to its average volume of 398,379. The company has a market cap of $1,008.24, a P/E ratio of -49.82 and a beta of 0.62. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.07. Boingo Wireless has a 1 year low of $13.29 and a 1 year high of $28.34.
In related news, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction on Monday, March 5th. The stock was sold at an average price of $25.80, for a total value of $645,000.00. Following the transaction, the vice president now owns 49,818 shares in the company, valued at $1,285,304.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Hagan sold 59,500 shares of Boingo Wireless stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $22.10, for a total value of $1,314,950.00. Following the completion of the transaction, the chief executive officer now owns 606,186 shares in the company, valued at approximately $13,396,710.60. The disclosure for this sale can be found here. Insiders sold 374,352 shares of company stock worth $9,439,720 in the last quarter. 7.70% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in Boingo Wireless by 35.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 132,100 shares of the technology company’s stock valued at $2,972,000 after acquiring an additional 34,800 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Boingo Wireless during the fourth quarter worth about $391,000. Millennium Management LLC lifted its stake in shares of Boingo Wireless by 13.7% during the fourth quarter. Millennium Management LLC now owns 549,120 shares of the technology company’s stock worth $12,355,000 after purchasing an additional 65,956 shares in the last quarter. Raymond James & Associates acquired a new position in shares of Boingo Wireless during the fourth quarter worth about $926,000. Finally, QS Investors LLC lifted its stake in shares of Boingo Wireless by 5.0% during the fourth quarter. QS Investors LLC now owns 138,384 shares of the technology company’s stock worth $3,114,000 after purchasing an additional 6,569 shares in the last quarter. Hedge funds and other institutional investors own 91.12% of the company’s stock.
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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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