$290.48 Million in Sales Expected for WideOpenWest Inc (WOW) This Quarter

Equities research analysts forecast that WideOpenWest Inc (NYSE:WOW) will announce $290.48 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued 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 during the same quarter last year, which indicates a negative year over year growth rate of 0.3%. The firm is expected to issue its next earnings results on Thursday, August 8th.

On average, analysts expect that WideOpenWest will report full year sales of $1.16 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.16 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.18 billion, with estimates ranging from $1.16 billion to $1.19 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow WideOpenWest.

WideOpenWest (NYSE:WOW) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.09). The company had revenue of $287.20 million during the quarter, compared to analyst estimates of $287.92 million. WideOpenWest had a net margin of 6.94% and a negative return on equity of 26.71%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 earnings per share.

A number of research firms have weighed in on WOW. Zacks Investment Research upgraded WideOpenWest from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research note on Saturday, May 11th. Macquarie cut WideOpenWest from an “outperform” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note 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 note on Friday, March 15th. Finally, Credit Suisse Group cut their price target on WideOpenWest from $11.50 to $9.50 and set a “neutral” rating on the stock in a research note on Friday, March 8th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $11.79.

In other WideOpenWest news, Director Crestview Partners Iii Gp, L.P purchased 226,635 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were bought at an average cost of $9.32 per share, for a total transaction of $2,112,238.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Teresa L. Elder purchased 6,265 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average price of $7.97 per share, for a total transaction of $49,932.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 1,597,936 shares of company stock worth $14,827,282. 3.00% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. acquired a new stake in shares of WideOpenWest during the fourth quarter worth about $25,000. SEI Investments Co increased its position in shares of WideOpenWest by 38.5% during the first quarter. SEI Investments Co now owns 5,988 shares of the company’s stock worth $54,000 after purchasing an additional 1,666 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of WideOpenWest by 115.8% during the first quarter. BNP Paribas Arbitrage SA now owns 6,965 shares of the company’s stock worth $63,000 after purchasing an additional 3,738 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of WideOpenWest during the fourth quarter worth about $80,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of WideOpenWest by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,865 shares of the company’s stock worth $77,000 after purchasing an additional 8,486 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

WideOpenWest stock traded down $0.32 during midday trading on Thursday, reaching $7.94. The company’s stock had a trading volume of 152,100 shares, compared to its average volume of 300,580. WideOpenWest has a fifty-two week low of $6.40 and a fifty-two week high of $12.91. The stock has a market cap of $697.14 million, a PE ratio of 6.90 and a beta of 1.70.

About WideOpenWest

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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