Brokerages predict that WideOpenWest Inc (NYSE:WOW) will post $290.48 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for WideOpenWest’s earnings, with the lowest sales estimate coming in at $289.40 million and the highest estimate coming in at $291.00 million. WideOpenWest posted sales of $291.30 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.3%. The firm is expected to report its next earnings results on Thursday, August 8th.
According to Zacks, analysts expect that WideOpenWest will report full year sales of $1.16 billion for the current financial year, with estimates ranging from $1.15 billion to $1.16 billion. For the next year, analysts anticipate that the company will report sales of $1.18 billion, with estimates ranging from $1.16 billion to $1.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow WideOpenWest.
WideOpenWest (NYSE:WOW) last announced its earnings results on Tuesday, May 7th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.09). The business had revenue of $287.20 million during the quarter, compared to the consensus estimate of $287.92 million. WideOpenWest had a negative return on equity of 26.71% and a net margin of 6.94%. WideOpenWest’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share.
A number of equities analysts have weighed in on WOW shares. Credit Suisse Group decreased their target price on WideOpenWest from $11.50 to $9.50 and set a “neutral” rating on the stock in a research note on Friday, March 8th. Macquarie lowered WideOpenWest from an “outperform” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research report on Tuesday, April 9th. They noted that the move was a valuation call. ValuEngine upgraded WideOpenWest from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Zacks Investment Research lowered WideOpenWest from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. WideOpenWest has a consensus rating of “Hold” and a consensus target price of $11.79.
In related news, CEO Teresa L. Elder purchased 6,265 shares of WideOpenWest stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average cost of $7.97 per share, for a total transaction of $49,932.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Crestview Partners Iii Gp, L.P purchased 92,398 shares of WideOpenWest stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average price of $9.45 per share, for a total transaction of $873,161.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,597,936 shares of company stock worth $14,827,282. 3.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Crestview Partners III GP L.P. grew its position in WideOpenWest by 3.7% during the 1st quarter. Crestview Partners III GP L.P. now owns 29,845,426 shares of the company’s stock worth $271,593,000 after acquiring an additional 1,077,250 shares during the last quarter. Private Management Group Inc. grew its position in WideOpenWest by 1.4% during the 1st quarter. Private Management Group Inc. now owns 3,048,724 shares of the company’s stock worth $27,743,000 after acquiring an additional 41,615 shares during the last quarter. BlackRock Inc. grew its position in WideOpenWest by 11.0% during the 4th quarter. BlackRock Inc. now owns 1,939,278 shares of the company’s stock worth $13,826,000 after acquiring an additional 191,585 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in WideOpenWest by 161.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,226,535 shares of the company’s stock worth $11,161,000 after buying an additional 757,097 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in WideOpenWest by 19.4% in the 4th quarter. Gabelli Funds LLC now owns 462,321 shares of the company’s stock worth $3,296,000 after buying an additional 75,221 shares during the period. Institutional investors and hedge funds own 61.77% of the company’s stock.
NYSE WOW traded down $0.07 during trading on Thursday, reaching $8.33. The company’s stock had a trading volume of 239,039 shares, compared to its average volume of 303,453. The firm has a market capitalization of $708.14 million, a P/E ratio of 7.24 and a beta of 1.70. WideOpenWest has a one year low of $6.40 and a one year high of $12.91.
WideOpenWest Company Profile
WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. Its video services include basic cable services that comprise local broadcast television and local community programming; digital cable services; and ultra-video products, as well as offers commercial-free movies, sports, and other special event entertainment programs.
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