Boingo Wireless, Inc. (WIFI) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Boingo Wireless, Inc. (NASDAQ:WIFI) released its quarterly earnings data on Thursday. The technology company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04, Briefing.com reports. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.73%. The business had revenue of $53.66 million for the quarter, compared to analyst estimates of $50.22 million. During the same period in the previous year, the firm earned ($0.15) EPS. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. Boingo Wireless updated its FY17 guidance to -0.66-0.58 EPS.
Boingo Wireless (NASDAQ:WIFI) opened at $25.10 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.11.
In related news, Director Michael Finley sold 7,500 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $19.34, for a total transaction of $145,050.00. Following the completion of the sale, the director now owns 52,998 shares of the company’s stock, valued at approximately $1,024,981.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Hagan sold 60,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $18.39, for a total transaction of $1,103,400.00. Following the sale, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at approximately $11,435,876.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,778 shares of company stock worth $5,291,249. Insiders own 7.70% of the company’s stock.
WIFI has been the topic of several recent research reports. BidaskClub upgraded shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Craig Hallum upped their target price on shares of Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 4th. Zacks Investment Research lowered shares of Boingo Wireless from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Jefferies Group LLC restated a “buy” rating and issued a $20.00 target price (up from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $24.00 target price (up from $18.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $21.37.
Boingo Wireless Company Profile
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (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.
Receive News & Ratings for Boingo Wireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.