Zacks: Brokerages Expect Boingo Wireless Inc (WIFI) Will Post Earnings of -$0.10 Per Share

Wall Street brokerages expect Boingo Wireless Inc (NASDAQ:WIFI) to post earnings per share (EPS) of ($0.10) for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Boingo Wireless’ earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.15). Boingo Wireless posted earnings per share of ($0.08) during the same quarter last year, which would indicate a negative year-over-year growth rate of 25%. The company is scheduled to announce its next quarterly earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that Boingo Wireless will report full-year earnings of ($0.31) per share for the current financial year, with EPS estimates ranging from ($0.47) to $0.06. For the next financial year, analysts expect that the company will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.39) to $0.23. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Boingo Wireless.

A number of brokerages have recently commented on WIFI. Roth Capital reaffirmed a “buy” rating on shares of Boingo Wireless in a research note on Friday, March 1st. Northland Securities set a $35.00 price objective on shares of Boingo Wireless and gave the stock a “buy” rating in a research note on Thursday, February 28th. Credit Suisse Group dropped their price objective on shares of Boingo Wireless from $35.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, February 28th. Craig Hallum reaffirmed a “buy” rating and set a $28.00 price objective (down previously from $36.00) on shares of Boingo Wireless in a research note on Thursday, February 28th. Finally, ValuEngine cut shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $34.11.



Shares of NASDAQ WIFI traded up $0.21 during midday trading on Thursday, reaching $21.49. 422,313 shares of the stock were exchanged, compared to its average volume of 500,297. The stock has a market capitalization of $925.85 million, a price-to-earnings ratio of -716.33 and a beta of 1.09. Boingo Wireless has a twelve month low of $18.50 and a twelve month high of $35.98. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17.

In other news, CEO David Hagan sold 15,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.56, for a total transaction of $308,400.00. Following the transaction, the chief executive officer now owns 1,133,375 shares in the company, valued at approximately $23,302,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Hovenier sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $23.95, for a total value of $119,750.00. Following the transaction, the chief financial officer now owns 476,723 shares in the company, valued at approximately $11,417,515.85. The disclosure for this sale can be found here. Insiders have sold a total of 145,000 shares of company stock worth $3,438,750 in the last quarter. Insiders own 3.80% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of Boingo Wireless by 1.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,110 shares of the technology company’s stock valued at $825,000 after buying an additional 430 shares in the last quarter. Citigroup Inc. lifted its position in shares of Boingo Wireless by 4.6% during the 4th quarter. Citigroup Inc. now owns 14,096 shares of the technology company’s stock valued at $290,000 after buying an additional 621 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Boingo Wireless by 6.0% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 12,627 shares of the technology company’s stock valued at $260,000 after buying an additional 711 shares in the last quarter. Legal & General Group Plc lifted its holdings in Boingo Wireless by 13.7% in the 4th quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock valued at $150,000 after purchasing an additional 882 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Boingo Wireless by 75.6% in the 4th quarter. Macquarie Group Ltd. now owns 2,067 shares of the technology company’s stock valued at $42,000 after purchasing an additional 890 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

About Boingo Wireless

Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.

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

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