Zacks: Brokerages Anticipate Gogo Inc (NASDAQ:GOGO) Will Announce Earnings of -$0.56 Per Share

Wall Street brokerages expect Gogo Inc (NASDAQ:GOGO) to report earnings per share of ($0.56) for the current quarter, Zacks reports. Seven analysts have provided estimates for Gogo’s earnings, with the lowest EPS estimate coming in at ($0.72) and the highest estimate coming in at ($0.40). Gogo reported earnings per share of ($0.47) in the same quarter last year, which suggests a negative year-over-year growth rate of 19.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Gogo will report full-year earnings of ($2.21) per share for the current fiscal year, with EPS estimates ranging from ($2.68) to ($1.73). For the next year, analysts forecast that the business will post earnings of ($0.95) per share, with EPS estimates ranging from ($1.81) to $0.75. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Gogo.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.12. The firm had revenue of $213.70 million during the quarter, compared to analysts’ expectations of $199.62 million. During the same quarter in the previous year, the business earned ($0.47) earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year.



Several research analysts recently weighed in on GOGO shares. Roth Capital started coverage on Gogo in a research report on Monday, May 13th. They set a “buy” rating and a $10.00 price target for the company. BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research cut Gogo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, William Blair upgraded Gogo from a “market perform” rating to an “outperform” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.75.

In related news, Director Charles C. Townsend purchased 100,000 shares of Gogo stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $4.43 per share, for a total transaction of $443,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 41.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Kavar Capital Partners LLC acquired a new stake in Gogo in the second quarter valued at approximately $25,000. Aperio Group LLC acquired a new stake in Gogo in the second quarter valued at approximately $40,000. Coatue Management LLC acquired a new stake in Gogo in the second quarter valued at approximately $44,000. Walleye Trading Advisors LLC acquired a new stake in Gogo in the second quarter valued at approximately $44,000. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Gogo in the first quarter valued at approximately $73,000. 60.12% of the stock is currently owned by institutional investors.

Shares of NASDAQ:GOGO traded up $0.22 during trading on Wednesday, hitting $4.03. The stock had a trading volume of 2,020,263 shares, compared to its average volume of 1,521,932. Gogo has a 12-month low of $2.64 and a 12-month high of $7.82. The stock has a market capitalization of $375.17 million, a price-to-earnings ratio of -2.20 and a beta of 0.97. The stock has a 50-day simple moving average of $4.27 and a two-hundred day simple moving average of $4.57.

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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Earnings History and Estimates for Gogo (NASDAQ:GOGO)

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