WideOpenWest (NYSE:WOW) Posts Quarterly Earnings Results, Misses Estimates By $0.23 EPS

WideOpenWest (NYSE:WOW) released its quarterly earnings data on Wednesday. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.23), Zacks reports. WideOpenWest had a negative net margin of 13.20% and a negative return on equity of 39.95%. The company had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $144.06 million.

WideOpenWest Stock Performance

Shares of NYSE:WOW traded down $0.02 during midday trading on Thursday, hitting $5.14. The company had a trading volume of 389,699 shares, compared to its average volume of 429,514. The company has a debt-to-equity ratio of 5.71, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $440.07 million, a price-to-earnings ratio of -5.41 and a beta of 1.26. WideOpenWest has a 12-month low of $3.06 and a 12-month high of $5.77. The company has a fifty day moving average of $5.14 and a two-hundred day moving average of $4.52.

Analysts Set New Price Targets

WOW has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of WideOpenWest from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. UBS Group restated a “neutral” rating and issued a $5.20 price target (up from $4.80) on shares of WideOpenWest in a research note on Tuesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of WideOpenWest in a research note on Tuesday, October 14th. Finally, Benchmark cut WideOpenWest from a “buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $5.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC grew its stake in shares of WideOpenWest by 2.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 364,570 shares of the company’s stock valued at $1,480,000 after acquiring an additional 8,832 shares during the period. Geode Capital Management LLC raised its stake in WideOpenWest by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,157,310 shares of the company’s stock worth $4,700,000 after acquiring an additional 21,071 shares during the period. Brevan Howard Capital Management LP lifted its holdings in WideOpenWest by 15.1% during the second quarter. Brevan Howard Capital Management LP now owns 68,793 shares of the company’s stock valued at $279,000 after purchasing an additional 9,015 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of WideOpenWest by 14.1% in the second quarter. The Manufacturers Life Insurance Company now owns 21,959 shares of the company’s stock worth $89,000 after purchasing an additional 2,706 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of WideOpenWest in the second quarter worth $103,000. Institutional investors own 87.77% of the company’s stock.

About WideOpenWest

WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. The company's video services include basic cable services that comprise local broadcast television and local community programming; digital cable services; WOW tv+ that offers traditional cable video and cloud DVR functionality, voice remote with Google Assistant, and Netflix integration along with access to various streaming services and apps through the Google Play Store; and commercial-free movies, TV shows, sports, and other special event entertainment programs.