Boingo Wireless (NASDAQ:WIFI) Updates FY19 Earnings Guidance

Boingo Wireless (NASDAQ:WIFI) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided EPS guidance of (0.45-0.34) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.49). The company issued revenue guidance of $270-280 million, compared to the consensus revenue estimate of $276.95 million.Boingo Wireless also updated its Q2 guidance to (0.09-0.02) EPS.

WIFI stock traded down $0.13 during trading on Friday, hitting $19.49. 9,905 shares of the company traded hands, compared to its average volume of 422,835. The stock has a market capitalization of $890.70 million, a PE ratio of -650.17 and a beta of 1.05. Boingo Wireless has a 1 year low of $18.50 and a 1 year high of $35.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.95 and a quick ratio of 0.95.

Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Boingo Wireless had a negative return on equity of 2.82% and a negative net margin of 1.21%. The business had revenue of $66.47 million during the quarter, compared to analysts’ expectations of $65.74 million. Analysts anticipate that Boingo Wireless will post -0.38 EPS for the current year.

A number of research analysts have recently commented on the company. Craig Hallum restated a buy rating and issued a $29.00 target price (up previously from $28.00) on shares of Boingo Wireless in a research note on Thursday, May 9th. William Blair restated a buy rating on shares of Boingo Wireless in a research note on Thursday, March 28th. Oppenheimer reduced their price objective on Boingo Wireless from $39.00 to $32.00 and set an outperform rating for the company in a research report on Thursday, May 9th. BidaskClub lowered Boingo Wireless from a buy rating to a hold rating in a research report on Tuesday, April 23rd. Finally, Zacks Investment Research raised Boingo Wireless from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $32.67.

In other news, insider Derek Peterson sold 11,628 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $21.77, for a total value of $253,141.56. Following the transaction, the insider now directly owns 57,447 shares in the company, valued at $1,250,621.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter Hovenier sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.72, for a total value of $113,600.00. Following the sale, the chief financial officer now directly owns 385,723 shares in the company, valued at $8,763,626.56. The disclosure for this sale can be found here. In the last three months, insiders sold 75,992 shares of company stock valued at $1,785,863. Corporate insiders own 3.80% of the company’s stock.

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

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