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WidePoint (WYY) Reports Q3 Loss, Tops Revenue Estimates
WYYWidePoint(WYY) ZACKS·2024-11-13 23:31

Group 1: Earnings Performance - WidePoint reported a quarterly loss of 0.04pershare,betterthantheZacksConsensusEstimateofalossof0.04 per share, better than the Zacks Consensus Estimate of a loss of 0.07, and an improvement from a loss of 0.10pershareayearago,representinganearningssurpriseof42.860.10 per share a year ago, representing an earnings surprise of 42.86% [1] - The company posted revenues of 34.62 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 13.86%, compared to year-ago revenues of 25.73million[2]−Overthelastfourquarters,WidePointhassurpassedconsensusEPSestimatestwotimesandtoppedconsensusrevenueestimatestwotimes[2]Group2:StockPerformanceandOutlook−WidePointshareshaveincreasedapproximately76.725.73 million [2] - Over the last four quarters, WidePoint has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - WidePoint shares have increased approximately 76.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 25.5% [3] - The current consensus EPS estimate for the coming quarter is -0.09 on revenues of 31.55million,and−31.55 million, and -0.28 on revenues of $132.21 million for the current fiscal year [7] - The estimate revisions trend for WidePoint is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Computer - Services industry, to which WidePoint belongs, is currently in the bottom 44% of over 250 Zacks industries, suggesting that the outlook for the industry can materially impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]