Wall Street analysts expect that Gogo Inc (NASDAQ:GOGO) will report sales of $200.15 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Gogo’s earnings, with the lowest sales estimate coming in at $195.58 million and the highest estimate coming in at $210.14 million. Gogo reported sales of $231.83 million during the same quarter last year, which indicates a negative year over year growth rate of 13.7%. The firm is scheduled to issue its next earnings results on Friday, May 3rd.
According to Zacks, analysts expect that Gogo will report full-year sales of $832.98 million for the current fiscal year, with estimates ranging from $803.67 million to $862.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $915.02 million, with estimates ranging from $865.86 million to $951.54 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Gogo.
Gogo (NASDAQ:GOGO) last issued its earnings results on Thursday, February 21st. The technology company reported ($0.74) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.74). The business had revenue of $217.22 million during the quarter, compared to the consensus estimate of $214.50 million. During the same period in the prior year, the business earned ($0.52) EPS. The business’s revenue was up 15.5% on a year-over-year basis.
A number of brokerages have recently weighed in on GOGO. BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a research report on Saturday, December 8th. Zacks Investment Research upgraded Gogo from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $6.06.
Shares of NASDAQ:GOGO traded up $0.03 during trading on Monday, hitting $4.39. 467,699 shares of the company traded hands, compared to its average volume of 919,941. The firm has a market capitalization of $381.77 million, a PE ratio of -2.40 and a beta of 1.29. Gogo has a one year low of $2.64 and a one year high of $9.74.
In other news, Director Charles C. Townsend acquired 277,405 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were acquired at an average price of $4.36 per share, with a total value of $1,209,485.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 36.20% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Gogo by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 667,641 shares of the technology company’s stock worth $1,996,000 after purchasing an additional 18,884 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Gogo by 6.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 250,243 shares of the technology company’s stock valued at $748,000 after purchasing an additional 14,904 shares in the last quarter. Premier Asset Management LLC acquired a new position in shares of Gogo during the fourth quarter worth about $734,000. Coatue Management LLC acquired a new position in shares of Gogo during the fourth quarter worth about $272,000. Finally, North Peak Capital Management LLC acquired a new position in shares of Gogo during the fourth quarter worth about $748,000. 57.02% of the stock is owned by institutional investors and hedge funds.
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).
Read More: Stop Order Uses For Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gogo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo and related companies with MarketBeat.com's FREE daily email newsletter.