Equities analysts expect that Boingo Wireless Inc (NASDAQ:WIFI) will announce sales of $61.32 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Boingo Wireless’ earnings, with the highest sales estimate coming in at $62.00 million and the lowest estimate coming in at $60.48 million. Boingo Wireless posted sales of $68.55 million in the same quarter last year, which would indicate a negative year over year growth rate of 10.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 6th.
On average, analysts expect that Boingo Wireless will report full year sales of $250.75 million for the current financial year, with estimates ranging from $243.48 million to $256.03 million. For the next fiscal year, analysts expect that the firm will report sales of $270.17 million, with estimates ranging from $253.08 million to $286.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Boingo Wireless.
Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $59.89 million for the quarter, compared to the consensus estimate of $63.71 million. Boingo Wireless had a negative net margin of 3.80% and a negative return on equity of 10.45%.
WIFI has been the topic of several recent analyst reports. Credit Suisse Group reissued a “buy” rating and set a $20.00 target price on shares of Boingo Wireless in a research note on Wednesday, May 6th. Craig Hallum decreased their target price on Boingo Wireless from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Oppenheimer reissued a “hold” rating on shares of Boingo Wireless in a research note on Tuesday, May 5th. Zacks Investment Research reaffirmed a “hold” rating on shares of Boingo Wireless in a research note on Saturday, June 20th. Finally, LADENBURG THALM/SH SH reduced their price objective on Boingo Wireless from $33.50 to $20.50 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $18.30.
Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in Boingo Wireless by 1.8% in the first quarter. Rhumbline Advisers now owns 57,245 shares of the technology company’s stock valued at $607,000 after buying an additional 1,001 shares in the last quarter. Swiss National Bank increased its position in shares of Boingo Wireless by 1.3% during the first quarter. Swiss National Bank now owns 85,550 shares of the technology company’s stock worth $908,000 after purchasing an additional 1,100 shares in the last quarter. Deutsche Bank AG increased its position in shares of Boingo Wireless by 9.8% during the first quarter. Deutsche Bank AG now owns 17,574 shares of the technology company’s stock worth $186,000 after purchasing an additional 1,575 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Boingo Wireless during the fourth quarter worth about $30,000. Finally, Arden Trust Co acquired a new stake in shares of Boingo Wireless during the first quarter worth about $32,000. 92.40% of the stock is owned by institutional investors and hedge funds.
Shares of WIFI opened at $12.56 on Tuesday. The business’s 50 day moving average is $13.46 and its 200 day moving average is $12.19. The company has a market capitalization of $536.39 million, a PE ratio of -57.09 and a beta of 1.20. Boingo Wireless has a 12-month low of $6.66 and a 12-month high of $19.58. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 3.17.
Boingo Wireless Company Profile
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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