Zacks: Brokerages Expect WideOpenWest Inc (WOW) Will Post Quarterly Sales of $292.78 Million

Brokerages forecast that WideOpenWest Inc (NYSE:WOW) will post sales of $292.78 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for WideOpenWest’s earnings, with estimates ranging from $290.30 million to $296.50 million. WideOpenWest posted sales of $292.80 million during the same quarter last year, which suggests a negative year over year growth rate of 0%. The business is scheduled to issue its next earnings report on Wednesday, March 13th.

According to Zacks, analysts expect that WideOpenWest will report full year sales of $1.16 billion for the current year. For the next year, analysts expect that the company will post sales of $1.18 billion, with estimates ranging from $1.17 billion to $1.20 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow WideOpenWest.

Several brokerages recently issued reports on WOW. Zacks Investment Research upgraded WideOpenWest from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Saturday, January 12th. ValuEngine lowered WideOpenWest from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. Finally, B. Riley set a $16.00 price target on WideOpenWest and gave the company a “buy” rating in a research note on Friday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.64.

In related news, General Counsel Donald Craig Martin acquired 3,180 shares of the stock in a transaction dated Thursday, December 13th. The shares were bought at an average cost of $7.88 per share, for a total transaction of $25,058.40. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased 10,575 shares of company stock worth $86,377 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in shares of WideOpenWest in the 4th quarter valued at approximately $80,000. Voya Investment Management LLC bought a new stake in shares of WideOpenWest in the 2nd quarter valued at approximately $106,000. Meeder Asset Management Inc. grew its stake in shares of WideOpenWest by 1,205.2% in the 4th quarter. Meeder Asset Management Inc. now owns 11,133 shares of the company’s stock valued at $79,000 after purchasing an additional 10,280 shares during the period. Jane Street Group LLC bought a new stake in shares of WideOpenWest in the 3rd quarter valued at approximately $127,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of WideOpenWest in the 4th quarter valued at approximately $143,000. Institutional investors own 56.42% of the company’s stock.

Shares of WOW opened at $7.89 on Thursday. WideOpenWest has a 12-month low of $6.03 and a 12-month high of $12.91. The stock has a market cap of $657.01 million, a P/E ratio of 11.43 and a beta of 1.76.

WideOpenWest Company Profile

WideOpenWest, Inc operates as a cable operator in the United States. It provides high-speed data, cable television, voice over IP-based telephony, and business-class services to residential and business services customers. 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 provides commercial-free movies, sports, and other special event entertainment programs.

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