Wall Street analysts expect that Boingo Wireless Inc (NASDAQ:WIFI) will post $65.74 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Boingo Wireless’ earnings, with estimates ranging from $63.12 million to $67.55 million. Boingo Wireless reported sales of $58.16 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, May 8th.
On average, analysts expect that Boingo Wireless will report full-year sales of $277.53 million for the current year, with estimates ranging from $274.88 million to $281.49 million. For the next financial year, analysts expect that the business will post sales of $308.59 million, with estimates ranging from $305.70 million to $311.69 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Boingo Wireless.
Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Wednesday, February 27th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $67.81 million for the quarter, compared to analyst estimates of $67.18 million. Boingo Wireless had a negative net margin of 0.49% and a negative return on equity of 1.08%.
NASDAQ:WIFI opened at $24.16 on Tuesday. The company has a market cap of $1.06 billion, a P/E ratio of -805.33 and a beta of 1.09. Boingo Wireless has a one year low of $18.50 and a one year high of $35.98. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 1.17.
In other Boingo Wireless news, CFO Peter Hovenier sold 5,000 shares of Boingo Wireless stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $23.95, for a total transaction of $119,750.00. Following the completion of the sale, the chief financial officer now directly owns 476,723 shares of the company’s stock, valued at approximately $11,417,515.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Hagan sold 29,364 shares of Boingo Wireless stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $25.36, for a total value of $744,671.04. Following the sale, the director now directly owns 1,103,375 shares of the company’s stock, valued at $27,981,590. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,364 shares of company stock worth $3,881,071. Company insiders own 3.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackay Shields LLC purchased a new stake in Boingo Wireless in the 4th quarter valued at approximately $366,000. Vanguard Group Inc. raised its position in shares of Boingo Wireless by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,304,762 shares of the technology company’s stock worth $115,336,000 after buying an additional 217,283 shares during the period. Bank of Montreal Can increased its holdings in Boingo Wireless by 2,090.1% in the 4th quarter. Bank of Montreal Can now owns 230,463 shares of the technology company’s stock valued at $4,740,000 after purchasing an additional 219,940 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Boingo Wireless during the fourth quarter valued at about $1,402,000. Finally, New Jersey Better Educational Savings Trust grew its stake in shares of Boingo Wireless by 85.7% during the fourth quarter. New Jersey Better Educational Savings Trust now owns 13,000 shares of the technology company’s stock valued at $267,000 after acquiring an additional 6,000 shares in the last quarter. 93.84% of the stock is owned by hedge funds and other institutional investors.
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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