$165.46 Million in Sales Expected for Global Eagle Entertainment Inc (NASDAQ:ENT) This Quarter

Equities research analysts expect that Global Eagle Entertainment Inc (NASDAQ:ENT) will post sales of $165.46 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Global Eagle Entertainment’s earnings, with the highest sales estimate coming in at $167.31 million and the lowest estimate coming in at $163.60 million. Global Eagle Entertainment posted sales of $160.61 million during the same quarter last year, which would indicate a positive year over year growth rate of 3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, March 12th.

On average, analysts expect that Global Eagle Entertainment will report full-year sales of $659.39 million for the current financial year, with estimates ranging from $657.50 million to $661.28 million. For the next financial year, analysts forecast that the business will post sales of $670.52 million, with estimates ranging from $667.80 million to $673.24 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Global Eagle Entertainment.

ENT has been the topic of several recent analyst reports. ValuEngine raised shares of Global Eagle Entertainment from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of Global Eagle Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday.

A hedge fund recently raised its stake in Global Eagle Entertainment stock. Renaissance Technologies LLC boosted its holdings in shares of Global Eagle Entertainment Inc (NASDAQ:ENT) by 851.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,286 shares of the company’s stock after acquiring an additional 130,915 shares during the period. Renaissance Technologies LLC owned about 0.16% of Global Eagle Entertainment worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 58.41% of the company’s stock.

Shares of ENT traded up $0.01 during midday trading on Tuesday, hitting $0.41. The stock had a trading volume of 99,089 shares, compared to its average volume of 225,632. Global Eagle Entertainment has a 1 year low of $0.35 and a 1 year high of $2.80. The stock’s 50 day moving average is $0.44 and its 200 day moving average is $0.57.

About Global Eagle Entertainment

Global Eagle Entertainment Inc provides media and satellite-based connectivity to enterprise, consumer, and government markets worldwide. The company operates through two segments, Media & Content and Connectivity. The Media & Content buys, produces, manages, distributes, and provides post-production services and wholly-owned and licensed media content, video and music programming, advertising, applications, and video games for and to the airline, maritime, and other away from home non-theatrical markets.

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