Boingo Wireless, Inc. (WIFI) Issues FY17 Earnings Guidance
Boingo Wireless, Inc. (NASDAQ:WIFI) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of ($0.71)-($0.61) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.65). The company issued revenue guidance of $192-198 million, compared to the consensus revenue estimate of $188.38 million.Boingo Wireless also updated its Q3 guidance to ($0.18)-($0.10) EPS.
Several research firms recently commented on WIFI. Craig Hallum lifted their price target on Boingo Wireless from $17.00 to $20.00 and gave the stock a buy rating in a research report on Friday. Benchmark Co. lifted their price target on Boingo Wireless from $18.00 to $24.00 and gave the stock a buy rating in a research report on Friday. BidaskClub lowered Boingo Wireless from a hold rating to a sell rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered Boingo Wireless from a buy rating to a hold rating in a research report on Friday, July 7th. Finally, ValuEngine upgraded Boingo Wireless from a sell rating to a hold rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $16.26.
Shares of Boingo Wireless, Inc. (NASDAQ WIFI) traded up 27.22% on Friday, hitting $19.21. The company’s stock had a trading volume of 2,270,131 shares. The firm’s market cap is $748.88 million. Boingo Wireless, Inc. has a one year low of $8.10 and a one year high of $19.42. The stock has a 50-day moving average price of $15.31 and a 200 day moving average price of $13.86.
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 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 firm had revenue of $49 million during the quarter, compared to analysts’ expectations of $46.23 million. During the same period last year, the company earned ($0.19) EPS. The business’s quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts predict that Boingo Wireless, Inc. will post ($0.65) EPS for the current year.
In other news, CFO Peter Hovenier sold 10,237 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $15.86, for a total value of $162,358.82. Following the completion of the sale, the chief financial officer now owns 49,730 shares of the company’s stock, valued at approximately $788,717.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Tom Tracey sold 25,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $15.75, for a total transaction of $393,750.00. Following the completion of the sale, the vice president now directly owns 67,316 shares of the company’s stock, valued at approximately $1,060,227. The disclosure for this sale can be found here. In the last three months, insiders sold 1,132,777 shares of company stock valued at $17,590,592. Corporate insiders own 7.70% of the company’s stock.
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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 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.
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