Here’s Why WideOpenWest Shares Are Trading Higher Today

Here’s Why WideOpenWest Shares Are Trading Higher Today
A board displays the chart of Germany's share index DAX at the stock exchange in Frankfurt am Main, western Germany, on Aug. 27, 2021. (Daniel Roland/AFP via Getty Images)

Morgan Stanley’s infrastructure investment arm is amid discussions to acquire broadband and other cable services provider WideOpenWest, Inc., Bloomberg reports.

The private equity firm Crestview Partners is its largest shareholder, with a 36 percent stake.

WideOpenWest, which does business as Wow!, says its network spans states including Georgia, Alabama, Michigan, Florida, Tennessee, and South Carolina.

The stock has gained about 17 percent since reports circulated that it was exploring a sale.

WideOpenWest reported first-quarter FY22 EPS of $0.07, missing the consensus of $0.08. The revenue of $174.60 million, down 4 percent year-on-year, beating the consensus of $174.26 million.

WideOpenWest sees Q2 revenue of $177 million-$180 million versus the consensus of $177.29 million.

The FY22 revenue of $708 million-$711 million compared to the consensus of $710.17 million.

By Anusuya Lahiri
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