Market Overview

UPDATE: D.A. Davidson & Co. Reiterates On Towerstream On Mixed Q2 Results

Share:

In a report published Tuesday, D.A. Davidson & Co. analyst Donna Jaegers reiterated a Buy rating on Towerstream (NASDAQ: TWER), but lowered the price target from $5.00 to $3.00.

In the report, D.A. Davidson & Co. noted, “TWER's results showed lighter than expected revenue at $8.27 million compared to our estimate of $8.41 million. Fixed Wireless shrank 1.5% sequentially but churn improved from 2.3% in Q1 to 1.7%. HetNets revenue was flat at $739k compared to $740k in Q1. Year-over-year (YoY) total revenue was flat with only a meager 0.6% increase. Expenses were up 1% YoY and down 1.5% sequentially. TWER is trying to hold expenses flat as it awaits more activity from the carriers on the HetNets business. Total EBITDA loss was $2.5 million and EPS was $(0.10), which was in line with expectations and compared to $(0.09) last year. Capex was $2.0 million and the company had negative free cash flow of $4 million—better than the $7 million cash burn in Q1. Cash at the end of the quarter was $17.3 million.”

Towerstream closed on Monday at $1.59.

Latest Ratings for TWER

DateFirmActionFromTo
Feb 2016DA DavidsonDowngradesBuyNeutral
Aug 2015H.C. WainwrightUpgradesNeutralBuy
Jul 2015H.C. WainwrightInitiates Coverage onNeutral

View More Analyst Ratings for TWER
View the Latest Analyst Ratings

 

Related Articles (TWER)

View Comments and Join the Discussion!

Posted-In: D.A. Davidson & Co. Donna JaegersAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
GGGJefferiesUpgrades90.0
PINeedhamMaintains61.0
TOTCowen & Co.Downgrades48.0
APPNNeedhamMaintains193.0
DOMONeedhamMaintains85.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com