Equities research analysts predict that Boingo Wireless, Inc. (NASDAQ:WIFI) will announce $47.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Boingo Wireless’ earnings. The lowest sales estimate is $46.50 million and the highest is $48.75 million. Boingo Wireless reported sales of $40.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The company is expected to announce its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Boingo Wireless will report full year sales of $47.33 million for the current financial year, with estimates ranging from $184.10 million to $192.75 million. For the next financial year, analysts forecast that the business will post sales of $212.47 million per share, with estimates ranging from $205.00 million to $229.01 million. Zacks’ sales averages are an average based on a survey of research firms that cover Boingo Wireless.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.52%. The company had revenue of $49 million for the quarter, compared to the consensus estimate of $46.23 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business’s revenue was up 25.3% on a year-over-year basis.

Several brokerages have commented on WIFI. ValuEngine raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Ladenburg Thalmann Financial Services raised their price objective on shares of Boingo Wireless from $16.85 to $18.50 and gave the company a “buy” rating in a report on Thursday, May 25th. Credit Suisse Group raised their price objective on shares of Boingo Wireless from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Craig Hallum raised their price objective on shares of Boingo Wireless from $13.00 to $17.00 and gave the company a “buy” rating in a report on Monday, May 15th. Finally, BidaskClub lowered shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.26.

TRADEMARK VIOLATION NOTICE: “$47.33 Million in Sales Expected for Boingo Wireless, Inc. (WIFI) This Quarter” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/08/07/47-33-million-in-sales-expected-for-boingo-wireless-inc-wifi-this-quarter.html.

In other news, insider Derek Peterson sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $16.02, for a total value of $240,300.00. Following the completion of the transaction, the insider now directly owns 42,664 shares in the company, valued at $683,477.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dawn Callahan sold 100,000 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $15.90, for a total transaction of $1,590,000.00. Following the completion of the transaction, the insider now owns 58,425 shares of the company’s stock, valued at $928,957.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,132,777 shares of company stock valued at $17,590,592. 7.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WIFI. Legal & General Group Plc increased its position in Boingo Wireless by 3.9% in the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock worth $137,000 after buying an additional 341 shares during the period. Stifel Financial Corp boosted its stake in shares of Boingo Wireless by 3.7% in the first quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock worth $205,000 after buying an additional 559 shares during the period. Teachers Advisors LLC boosted its stake in shares of Boingo Wireless by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 94,267 shares of the technology company’s stock worth $1,149,000 after buying an additional 673 shares during the period. Reliance Trust Co. of Delaware boosted its stake in shares of Boingo Wireless by 9.6% in the first quarter. Reliance Trust Co. of Delaware now owns 11,339 shares of the technology company’s stock worth $147,000 after buying an additional 990 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of Boingo Wireless by 1.1% in the first quarter. Blair William & Co. IL now owns 92,375 shares of the technology company’s stock worth $1,008,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 86.35% of the company’s stock.

About Boingo Wireless

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor Distributed Antenna System (DAS) services. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices.

Get a free copy of the Zacks research report on Boingo Wireless (WIFI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Boingo Wireless (NASDAQ:WIFI)

Receive News & Ratings for Boingo Wireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless Inc. and related companies with MarketBeat.com's FREE daily email newsletter.