Zacks: Analysts Anticipate Boingo Wireless Inc (NASDAQ:WIFI) to Post -$0.09 Earnings Per Share

Brokerages forecast that Boingo Wireless Inc (NASDAQ:WIFI) will post ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Boingo Wireless’ earnings, with estimates ranging from ($0.12) to ($0.05). Boingo Wireless reported earnings of ($0.01) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 800%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Boingo Wireless will report full year earnings of ($0.30) per share for the current financial year, with EPS estimates ranging from ($0.38) to ($0.21). For the next year, analysts expect that the company will report earnings of ($0.21) per share, with EPS estimates ranging from ($0.31) to ($0.07). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Boingo Wireless.

A number of equities analysts have commented on WIFI shares. Craig Hallum decreased their price target on Boingo Wireless from $29.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Saturday, August 3rd. Northland Securities reaffirmed a “buy” rating on shares of Boingo Wireless in a research note on Friday, August 2nd. Credit Suisse Group set a $28.00 price target on Boingo Wireless and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, ValuEngine raised Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. One equities research 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 company presently has an average rating of “Buy” and a consensus target price of $29.67.

Boingo Wireless stock traded down $0.15 during trading hours on Wednesday, reaching $11.17. The company had a trading volume of 873,500 shares, compared to its average volume of 609,708. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average price of $15.20 and a 200 day moving average price of $20.28. The firm has a market cap of $496.68 million, a price-to-earnings ratio of -372.33 and a beta of 1.01. Boingo Wireless has a 12-month low of $10.83 and a 12-month high of $35.98.

In other news, CFO Peter Hovenier sold 3,098 shares of Boingo Wireless stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $15.00, for a total value of $46,470.00. Following the sale, the chief financial officer now directly owns 380,711 shares in the company, valued at approximately $5,710,665. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the sale, the director now owns 1,056,229 shares in the company, valued at $19,170,556.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,226 shares of company stock worth $2,507,248. Corporate insiders own 4.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Intrinsic Edge Capital Management LLC bought a new stake in shares of Boingo Wireless in the 2nd quarter worth approximately $10,879,000. Royal Bank of Canada grew its position in shares of Boingo Wireless by 20.8% in the 2nd quarter. Royal Bank of Canada now owns 619,764 shares of the technology company’s stock worth $11,138,000 after buying an additional 106,888 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Boingo Wireless in the 2nd quarter worth approximately $264,000. Nuveen Asset Management LLC bought a new stake in shares of Boingo Wireless in the 2nd quarter worth approximately $4,986,000. Finally, Victory Capital Management Inc. grew its position in shares of Boingo Wireless by 1.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,977,670 shares of the technology company’s stock worth $35,538,000 after buying an additional 18,720 shares during the last quarter.

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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