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5.28
1.34%
0.07
Why is Wideopenwest Inc (WOW) Stock down?
We've noticed a 5.09% decline in Wideopenwest Inc (WOW) stock during the 2024-11-05 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
09 Nov, 2023:
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.
1.58%
0.08%
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