Brokerages Expect Boingo Wireless Inc (WIFI) to Announce -$0.11 EPS

Wall Street analysts expect Boingo Wireless Inc (NASDAQ:WIFI) to announce ($0.11) earnings per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Boingo Wireless’ earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.07). Boingo Wireless also reported earnings per share of ($0.11) during the same quarter last year. The company is scheduled to report its next earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Boingo Wireless will report full year earnings of ($0.57) per share for the current year, with EPS estimates ranging from ($0.62) to ($0.53). For the next financial year, analysts expect that the firm will report earnings of ($0.43) per share, with EPS estimates ranging from ($0.50) to ($0.31). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Boingo Wireless.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.62%. The company had revenue of $53.66 million for the quarter, compared to the consensus estimate of $50.22 million. During the same period in the prior year, the firm posted ($0.15) EPS. The company’s quarterly revenue was up 31.5% compared to the same quarter last year.

WIFI has been the topic of a number of recent analyst reports. Credit Suisse Group increased their price objective on shares of Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 5th. Craig Hallum increased their price objective on shares of Boingo Wireless from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Jefferies Group increased their price objective on shares of Boingo Wireless from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, BidaskClub downgraded shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $24.50.

In related news, insider Dawn Callahan sold 25,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $25.10, for a total value of $627,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Hagan sold 19,833 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $22.18, for a total transaction of $439,895.94. Following the completion of the transaction, the chief executive officer now directly owns 606,186 shares in the company, valued at $13,445,205.48. The disclosure for this sale can be found here. Insiders sold a total of 175,770 shares of company stock worth $4,071,931 over the last ninety days. Insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WIFI. Great West Life Assurance Co. Can purchased a new position in shares of Boingo Wireless in the 3rd quarter valued at $114,000. Legal & General Group Plc grew its position in shares of Boingo Wireless by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after buying an additional 341 shares during the last quarter. Royal Bank of Canada grew its position in shares of Boingo Wireless by 1.3% in the 2nd quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after buying an additional 135 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Boingo Wireless in the 3rd quarter valued at $229,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Boingo Wireless in the 2nd quarter valued at $237,000. 90.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Boingo Wireless (NASDAQ:WIFI) traded down $0.02 during trading hours on Friday, hitting $24.09. 327,838 shares of the company’s stock were exchanged, compared to its average volume of 405,706. Boingo Wireless has a 52 week low of $10.46 and a 52 week high of $25.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market cap of $989.28 and a P/E ratio of -41.53.

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Boingo Wireless Company Profile

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (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.

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