Equities analysts expect Gogo Inc (NASDAQ:GOGO) to post ($0.56) earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Gogo’s earnings, with the highest EPS estimate coming in at ($0.40) and the lowest estimate coming in at ($0.72). Gogo reported earnings of ($0.47) per share during the same quarter last year, which suggests a negative year over year growth rate of 19.1%. The business is expected to report its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that Gogo will report full-year earnings of ($2.21) per share for the current year, with EPS estimates ranging from ($2.68) to ($1.73). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.95) per share, with EPS estimates ranging from ($1.81) to $0.75. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Gogo.
Gogo (NASDAQ:GOGO) last posted its earnings results on Thursday, August 8th. The technology company reported ($0.47) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.12. The firm had revenue of $213.70 million for the quarter, compared to analyst estimates of $199.62 million. During the same period in the prior year, the business posted ($0.47) EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year.
GOGO has been the subject of a number of research reports. Roth Capital initiated coverage on Gogo in a report on Monday, May 13th. They set a “buy” rating and a $10.00 target price for the company. BidaskClub downgraded Gogo from a “hold” rating to a “sell” rating in a report on Monday. Zacks Investment Research downgraded Gogo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, William Blair raised Gogo from a “market perform” rating to an “outperform” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Gogo has a consensus rating of “Hold” and an average target price of $5.75.
In related news, Director Charles C. Townsend purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $4.43 per share, for a total transaction of $443,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 41.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of GOGO. Oppenheimer & Co. Inc. boosted its position in Gogo by 12.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,200 shares of the technology company’s stock valued at $108,000 after acquiring an additional 3,100 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Gogo by 1.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 317,229 shares of the technology company’s stock valued at $1,263,000 after acquiring an additional 3,726 shares in the last quarter. Kavar Capital Partners LLC bought a new stake in Gogo during the 2nd quarter valued at $25,000. Aperio Group LLC bought a new stake in Gogo during the 2nd quarter valued at $40,000. Finally, Walleye Trading Advisors LLC purchased a new stake in shares of Gogo during the 2nd quarter valued at $44,000. Institutional investors own 60.12% of the company’s stock.
Shares of GOGO traded down $0.30 during midday trading on Wednesday, reaching $3.96. 116,564 shares of the stock were exchanged, compared to its average volume of 1,704,223. Gogo has a twelve month low of $2.64 and a twelve month high of $7.82. The company has a market cap of $369.89 million, a P/E ratio of -2.16 and a beta of 0.97. The stock’s 50 day simple moving average is $4.27 and its 200 day simple moving average is $4.58.
Gogo Company Profile
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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