Equities research analysts expect Boingo Wireless Inc (NASDAQ:WIFI) to announce sales of $68.39 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Boingo Wireless’ earnings, with estimates ranging from $67.16 million to $69.50 million. Boingo Wireless reported sales of $59.60 million during the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is expected to report its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Boingo Wireless will report full-year sales of $277.75 million for the current financial year, with estimates ranging from $275.38 million to $280.50 million. For the next year, analysts expect that the business will post sales of $307.73 million, with estimates ranging from $304.30 million to $311.77 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Boingo Wireless.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The company had revenue of $66.47 million during the quarter, compared to the consensus estimate of $65.74 million. Boingo Wireless had a negative return on equity of 2.82% and a negative net margin of 1.21%.

WIFI has been the topic of several research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $35.00 price objective on shares of Boingo Wireless in a research report on Monday, January 28th. William Blair restated an “outperform” rating on shares of Boingo Wireless in a research report on Friday, February 22nd. ValuEngine cut shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Craig Hallum restated a “buy” rating and issued a $28.00 price objective (down from $36.00) on shares of Boingo Wireless in a research report on Thursday, February 28th. Finally, Northland Securities set a $35.00 price objective on shares of Boingo Wireless and gave the stock a “buy” rating in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.67.

In other Boingo Wireless news, CFO Peter Hovenier sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $25.05, for a total transaction of $125,250.00. Following the transaction, the chief financial officer now directly owns 450,723 shares in the company, valued at $11,290,611.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Hagan sold 29,364 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $25.36, for a total transaction of $744,671.04. Following the transaction, the director now owns 1,103,375 shares in the company, valued at $27,981,590. The disclosure for this sale can be found here. Insiders have sold 119,364 shares of company stock worth $2,898,371 over the last quarter. Company insiders own 3.80% of the company’s stock.

Several institutional investors have recently modified their holdings of WIFI. Macquarie Group Ltd. grew its holdings in shares of Boingo Wireless by 75.6% in the fourth quarter. Macquarie Group Ltd. now owns 2,067 shares of the technology company’s stock worth $42,000 after purchasing an additional 890 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Boingo Wireless by 101.3% in the first quarter. Fifth Third Bancorp now owns 1,922 shares of the technology company’s stock worth $45,000 after purchasing an additional 967 shares during the last quarter. Lindbrook Capital LLC bought a new position in shares of Boingo Wireless in the first quarter worth approximately $96,000. Legal & General Group Plc grew its holdings in shares of Boingo Wireless by 13.7% in the fourth quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock worth $150,000 after purchasing an additional 882 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Boingo Wireless in the first quarter worth approximately $169,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

WIFI stock opened at $21.81 on Thursday. The company has a current ratio of 0.95, a quick ratio of 1.17 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $953.16 million, a P/E ratio of -722.33 and a beta of 1.05. Boingo Wireless has a 1-year low of $18.50 and a 1-year high of $35.98.

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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