WideOpenWest (NYSE:WOW) Releases Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• WideOpenWest reported quarterly earnings of (-$0.22) EPS, missing analysts' estimates by $0.07 as it experienced a negative net margin of 9.32%.
• The company's stock price rose to $3.41 despite the earnings miss, while Institutional investors hold 87.77% of its shares.
• Recent analyst ratings show a downgrade from "hold" to "sell," with a price target reduction from $7.50 to $6.50.

WideOpenWest (NYSE:WOW - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07), Zacks reports. WideOpenWest had a negative net margin of 9.32% and a negative return on equity of 26.90%.

WideOpenWest Price Performance

Shares of WOW traded up $0.22 on Monday, hitting $3.41. The company's stock had a trading volume of 2,494,666 shares, compared to its average volume of 425,148. The company has a market capitalization of $291.06 million, a PE ratio of -4.86 and a beta of 1.24. The company has a debt-to-equity ratio of 5.17, a current ratio of 0.66 and a quick ratio of 0.66. WideOpenWest has a fifty-two week low of $3.06 and a fifty-two week high of $5.80. The company has a 50 day moving average price of $3.87 and a 200 day moving average price of $4.28.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in WideOpenWest stock. Empowered Funds LLC grew its stake in WideOpenWest, Inc. (NYSE:WOW - Free Report) by 119.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,638 shares of the company's stock after purchasing an additional 52,669 shares during the quarter. Empowered Funds LLC owned about 0.11% of WideOpenWest worth $478,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WOW. Wall Street Zen cut WideOpenWest from a "hold" rating to a "sell" rating in a research report on Saturday. Benchmark lowered their price target on WideOpenWest from $7.50 to $6.50 and set a "buy" rating on the stock in a research note on Thursday, May 29th.

About WideOpenWest

WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. The company's video services include basic cable services that comprise local broadcast television and local community programming; digital cable services; WOW tv+ that offers traditional cable video and cloud DVR functionality, voice remote with Google Assistant, and Netflix integration along with access to various streaming services and apps through the Google Play Store; and commercial-free movies, TV shows, sports, and other special event entertainment programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.