Stock Story -
Broadband and telecommunications services provider WideOpenWest (NYSE:WOW) will be announcing earnings results tomorrow afternoon. Here's what investors should know.
WideOpenWest met analysts' revenue expectations last quarter, reporting revenues of $161.5 million, down 6.2% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates and revenue guidance for next quarter missing analysts' expectations.
Is WideOpenWest a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting WideOpenWest's revenue to decline 7.8% year on year to $159.2 million, a further deceleration from the 2% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. WideOpenWest has missed Wall Street's revenue estimates six times over the last two years.
Looking at WideOpenWest's peers in the cable and satellite segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Charter posted flat year-on-year revenue, meeting analysts' expectations, and Sirius XM (NASDAQ:SIRI) reported a revenue decline of 3.2%, in line with consensus estimates. Charter traded up 19.8% following the results while Sirius XM was down 9.4%.
Read the full analysis of Charter's and Sirius XM's results on StockStory.
Investors in the cable and satellite segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. WideOpenWest's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $6 (compared to the current share price of $5.08).
