WideOpenWest (WOW) Posts Earnings Results, Beats Expectations By $0.14 EPS

WideOpenWest (NYSE:WOW) released its earnings results on Thursday. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.14, Zacks reports. The company had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $292.65 million. WideOpenWest had a negative return on equity of 5.46% and a negative net margin of 8.17%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS.

WOW traded up $0.50 during trading hours on Friday, hitting $10.88. The stock had a trading volume of 691,017 shares, compared to its average volume of 226,317. WideOpenWest has a 1 year low of $6.03 and a 1 year high of $12.91. The firm has a market cap of $862.10 million, a P/E ratio of 15.77 and a beta of 1.73.

An institutional investor recently raised its position in WideOpenWest stock. Bank of New York Mellon Corp raised its stake in shares of WideOpenWest Inc (NYSE:WOW) by 12.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 325,638 shares of the company’s stock after buying an additional 35,410 shares during the quarter. Bank of New York Mellon Corp owned about 0.39% of WideOpenWest worth $3,146,000 at the end of the most recent reporting period. 61.38% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on WOW shares. Credit Suisse Group lifted their target price on WideOpenWest from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Friday, August 10th. B. Riley set a $14.00 price objective on WideOpenWest and gave the stock a “buy” rating in a report on Sunday, August 12th. Zacks Investment Research raised WideOpenWest from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, August 15th. Raymond James reissued a “buy” rating and issued a $14.00 price objective on shares of WideOpenWest in a report on Monday, August 20th. Finally, UBS Group lifted their price objective on WideOpenWest from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 2nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.21.

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WideOpenWest Company Profile

WideOpenWest, Inc operates as a cable operator in the United States. It provides high-speed data, cable television, voice over IP-based telephony, and business-class services to residential and business services customers. 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 provides commercial-free movies, sports, and other special event entertainment programs.

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Earnings History for WideOpenWest (NYSE:WOW)

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