Boingo Wireless (WIFI) Expected to Announce Earnings of -$0.16 Per Share

Wall Street brokerages expect Boingo Wireless (NASDAQ:WIFI) to post earnings per share (EPS) of ($0.16) for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Boingo Wireless’ earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.19). Boingo Wireless posted earnings per share of ($0.18) during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Boingo Wireless will report full-year earnings of ($0.41) per share for the current financial year, with EPS estimates ranging from ($0.45) to ($0.32). For the next financial year, analysts expect that the company will post earnings of ($0.22) per share, with EPS estimates ranging from ($0.36) to ($0.14). Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Boingo Wireless.

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Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $57.35 million for 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%.

A number of research firms recently issued reports on WIFI. 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. William Blair reissued an “outperform” rating on shares of Boingo Wireless in a research report on Monday, March 12th. Credit Suisse Group reissued an “outperform” rating and set a $32.00 price objective (up previously from $27.00) on shares of Boingo Wireless in a research report on Wednesday, February 28th. Jefferies Group lifted their price objective on Boingo Wireless to $32.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Lake Street Capital reissued a “buy” rating and set a $30.00 price objective (up previously from $26.00) 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 presently has an average rating of “Buy” and a consensus price target of $28.39.

In other Boingo Wireless news, CEO David Hagan sold 19,833 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $22.18, for a total value of $439,895.94. Following the completion of the sale, the chief executive officer now owns 606,186 shares of the company’s stock, valued at $13,445,205.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter Hovenier sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $27.60, for a total value of $1,380,000.00. Following the completion of the sale, the chief financial officer now directly owns 31,730 shares of the company’s stock, valued at approximately $875,748. The disclosure for this sale can be found here. Insiders sold 374,352 shares of company stock valued at $9,439,720 in the last ninety days. Insiders own 7.70% of the company’s stock.

Several large investors have recently made changes to their positions in WIFI. Great West Life Assurance Co. Can acquired a new stake in shares of Boingo Wireless in the third quarter worth about $114,000. Royal Bank of Canada lifted its position in shares of Boingo Wireless by 1.3% in the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock worth $156,000 after buying an additional 135 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Boingo Wireless by 781.9% in the fourth quarter. Advisor Group Inc. now owns 8,078 shares of the technology company’s stock worth $181,000 after buying an additional 7,162 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in shares of Boingo Wireless in the fourth quarter worth about $203,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Boingo Wireless in the third quarter worth about $229,000. 91.12% of the stock is owned by institutional investors.

Boingo Wireless stock traded down $0.66 on Friday, reaching $25.16. The company had a trading volume of 248,373 shares, compared to its average volume of 428,051. The firm has a market capitalization of $1,039.23, a PE ratio of -51.35 and a beta of 0.49. Boingo Wireless has a 52-week low of $12.27 and a 52-week high of $28.34. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.07.

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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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