WideOpenWest, Inc. (NYSE:WOW – Get Rating) reached a new 52-week low during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $8.56 and last traded at $8.56, with a volume of 15113 shares traded. The stock had previously closed at $9.13.
The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.54). WideOpenWest had a negative net margin of 0.35% and a negative return on equity of 0.43%. The company had revenue of $172.20 million during the quarter, compared to the consensus estimate of $174.27 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year.
Analyst Ratings Changes
Separately, Raymond James downgraded WideOpenWest from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $21.00 to $14.00 in a report on Friday, February 24th.
Hedge Funds Weigh In On WideOpenWest
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP raised its holdings in shares of WideOpenWest by 23.1% during the first quarter. Royce & Associates LP now owns 52,300 shares of the company’s stock valued at $556,000 after acquiring an additional 9,800 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of WideOpenWest during the first quarter valued at approximately $58,000. SG Americas Securities LLC raised its holdings in WideOpenWest by 85.5% in the first quarter. SG Americas Securities LLC now owns 21,858 shares of the company’s stock worth $232,000 after purchasing an additional 10,072 shares in the last quarter. River Road Asset Management LLC bought a new position in WideOpenWest in the first quarter worth $3,788,000. Finally, Raymond James & Associates raised its holdings in WideOpenWest by 17.4% in the first quarter. Raymond James & Associates now owns 35,998 shares of the company’s stock worth $383,000 after purchasing an additional 5,345 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.
WideOpenWest Stock Performance
The business has a fifty day simple moving average of $10.52 and a 200-day simple moving average of $10.86. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.26. The firm has a market cap of $705.98 million, a P/E ratio of -417.79 and a beta of 1.76.
WideOpenWest Company Profile
WideOpenWest, Inc engages in the provision broadband services. It offers high-speed data, cable television, and digital telephony services to residential and business customers. The company was founded in 2001 and is headquartered in Englewood, CO.
Leave a Reply