Brokerages expect that WideOpenWest Inc (NYSE:WOW) will post sales of $290.48 million for the current quarter, Zacks reports. Four analysts have provided estimates for WideOpenWest’s earnings, with estimates ranging from $289.40 million to $291.00 million. WideOpenWest posted sales of $291.30 million during the same quarter last year, which suggests a negative year over year growth rate of 0.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 8th.
According to Zacks, analysts expect that WideOpenWest will report full year sales of $1.16 billion for the current financial year, with estimates ranging from $1.15 billion to $1.16 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.18 billion, with estimates ranging from $1.16 billion to $1.19 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover WideOpenWest.
WideOpenWest (NYSE:WOW) last announced its earnings results on Tuesday, May 7th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.09). The firm had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $287.92 million. WideOpenWest had a net margin of 6.94% and a negative return on equity of 26.71%. WideOpenWest’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share.
Several brokerages have recently weighed in on WOW. Zacks Investment Research upgraded shares of WideOpenWest from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research note on Saturday, May 11th. Macquarie downgraded shares of WideOpenWest from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Tuesday, April 9th. They noted that the move was a valuation call. ValuEngine upgraded shares of WideOpenWest from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Credit Suisse Group decreased their target price on shares of WideOpenWest from $11.50 to $9.50 and set a “neutral” rating for the company in a research note on Friday, March 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $11.79.
Shares of WOW stock opened at $8.30 on Thursday. The firm has a market capitalization of $682.82 million, a PE ratio of 7.22 and a beta of 1.70. WideOpenWest has a twelve month low of $6.40 and a twelve month high of $12.91.
In related news, Director Crestview Partners Iii Gp, L.P acquired 193,108 shares of WideOpenWest stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $8.19 per share, for a total transaction of $1,581,554.52. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Teresa L. Elder acquired 6,265 shares of WideOpenWest stock in a transaction on Tuesday, March 12th. The shares were bought at an average price of $7.97 per share, for a total transaction of $49,932.05. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,597,936 shares of company stock worth $14,827,282 over the last quarter. 3.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of WOW. Crestview Partners III GP L.P. boosted its stake in WideOpenWest by 3.7% during the 1st quarter. Crestview Partners III GP L.P. now owns 29,845,426 shares of the company’s stock valued at $271,593,000 after acquiring an additional 1,077,250 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of WideOpenWest by 161.3% during the first quarter. JPMorgan Chase & Co. now owns 1,226,535 shares of the company’s stock worth $11,161,000 after purchasing an additional 757,097 shares during the period. Private Management Group Inc. raised its holdings in shares of WideOpenWest by 19.3% during the fourth quarter. Private Management Group Inc. now owns 3,007,109 shares of the company’s stock worth $21,441,000 after purchasing an additional 486,203 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of WideOpenWest during the fourth quarter worth $1,996,000. Finally, Deutsche Bank AG raised its holdings in shares of WideOpenWest by 323.0% during the fourth quarter. Deutsche Bank AG now owns 298,190 shares of the company’s stock worth $2,124,000 after purchasing an additional 227,693 shares during the period. Hedge funds and other institutional investors own 61.77% of the company’s stock.
WideOpenWest Company Profile
WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. Its video services include basic cable services that comprise local broadcast television and local community programming; digital cable services; and ultra-video products, as well as offers commercial-free movies, sports, and other special event entertainment programs.
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