Wideopenwest Inc (WOW)

WideOpenWest, Inc. Stock (WOW) dropped by 56.89% from $7.40 to $3.19 in the trading on Thursday November 9, 2023. The reasons why WOW stock down today include:

• Q3 FY23 results: WideOpenWest reported revenue of $173.1 million, missing the consensus of $173.4 million, and EPS loss stood at $(1.29) vs. consensus of EPS of 1 cent.
• FY24 guidance: The company pulled FY24 guidance, citing significant declines in legacy high-speed data (HSD) customers due to several factors and a slowdown in gross additions from the timing of expansion delivery.
• Downgrade from analyst: Keybanc Capital Markets analyst Brandon Nispel downgraded the stock to Sector Weight from Overweight. Nispel now expects HSD losses of -11.1K (from +10K) in Q4 FY23 and expects legacy losses to offset Expansion subscriber growth going forward.