Boingo Wireless (NASDAQ:WIFI) Updates FY19 Earnings Guidance

Boingo Wireless (NASDAQ:WIFI) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of (0.45-0.34) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.41). The company issued revenue guidance of $270-280 million, compared to the consensus revenue estimate of $277.37 million.Boingo Wireless also updated its FY 2019 guidance to $-0.45–0.34 EPS.

A number of brokerages recently issued reports on WIFI. Zacks Investment Research raised shares of Boingo Wireless from a hold rating to a buy rating and set a $16.00 target price on the stock in a research report on Saturday. Craig Hallum decreased their price target on shares of Boingo Wireless from $29.00 to $22.00 and set a buy rating on the stock in a research note on Friday. BidaskClub downgraded shares of Boingo Wireless from a sell rating to a strong sell rating in a research note on Saturday, June 29th. Northland Securities reiterated a buy rating on shares of Boingo Wireless in a research note on Friday. Finally, ValuEngine upgraded shares of Boingo Wireless from a sell rating to a hold rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Boingo Wireless currently has an average rating of Buy and an average target price of $29.78.

WIFI traded down $1.01 during trading on Friday, reaching $13.20. 1,796,332 shares of the company’s stock were exchanged, compared to its average volume of 833,302. Boingo Wireless has a fifty-two week low of $12.60 and a fifty-two week high of $35.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day moving average of $17.77. The company has a market cap of $625.03 million, a P/E ratio of -440.00 and a beta of 1.01.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Boingo Wireless had a negative return on equity of 4.49% and a negative net margin of 1.88%. The business had revenue of $66.47 million for the quarter, compared to analyst estimates of $65.74 million. Sell-side analysts anticipate that Boingo Wireless will post -0.4 earnings per share for the current fiscal year.

In other news, insider Derek Peterson sold 11,628 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $21.77, for a total value of $253,141.56. Following the sale, the insider now owns 57,447 shares in the company, valued at approximately $1,250,621.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter Hovenier sold 5,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.80, for a total transaction of $89,000.00. Following the completion of the sale, the chief financial officer now owns 380,723 shares in the company, valued at approximately $6,776,869.40. The disclosure for this sale can be found here. Insiders have sold 147,756 shares of company stock worth $2,713,919 in the last quarter. 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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Earnings History and Estimates for Boingo Wireless (NASDAQ:WIFI)

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