Wall Street brokerages predict that Gogo Inc (NASDAQ:GOGO) will post sales of $206.51 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Gogo’s earnings. The highest sales estimate is $213.40 million and the lowest is $203.01 million. Gogo reported sales of $217.22 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.9%. The firm is expected to report its next earnings report on Thursday, February 20th.
According to Zacks, analysts expect that Gogo will report full year sales of $820.78 million for the current financial year, with estimates ranging from $817.42 million to $827.90 million. For the next year, analysts anticipate that the firm will report sales of $871.80 million, with estimates ranging from $833.61 million to $947.97 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Gogo.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.29. The firm had revenue of $201.18 million during the quarter, compared to analyst estimates of $206.07 million. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) earnings per share.
A number of brokerages have issued reports on GOGO. ValuEngine raised shares of Gogo from a “strong sell” rating to a “sell” rating in a report on Saturday, January 18th. Zacks Investment Research cut shares of Gogo from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, BidaskClub cut shares of Gogo from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.19.
NASDAQ:GOGO traded down $0.05 during mid-day trading on Wednesday, reaching $5.40. The stock had a trading volume of 920,947 shares, compared to its average volume of 2,035,059. The stock’s 50 day simple moving average is $5.79 and its two-hundred day simple moving average is $5.34. Gogo has a 1-year low of $3.58 and a 1-year high of $7.23. The company has a market capitalization of $472.41 million, a price-to-earnings ratio of -2.38 and a beta of 1.07.
In other Gogo news, CAO Michael P. Bayer sold 10,947 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $6.45, for a total value of $70,608.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 41.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXA bought a new stake in shares of Gogo during the second quarter valued at approximately $128,000. Metropolitan Life Insurance Co NY bought a new stake in shares of Gogo during the third quarter valued at approximately $111,000. State Street Corp raised its holdings in shares of Gogo by 1.4% during the third quarter. State Street Corp now owns 1,154,939 shares of the technology company’s stock valued at $6,964,000 after buying an additional 16,159 shares during the last quarter. Tenzing Global Management LLC raised its holdings in shares of Gogo by 34.8% during the third quarter. Tenzing Global Management LLC now owns 2,325,000 shares of the technology company’s stock valued at $14,020,000 after buying an additional 600,000 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Gogo during the third quarter valued at approximately $703,000. 61.03% of the stock is currently owned by institutional investors.
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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