Analysts Expect Gogo Inc (GOGO) Will Post Quarterly Sales of $168.39 Million
Analysts predict that Gogo Inc (NASDAQ:GOGO) will report $168.39 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Gogo’s earnings, with the highest sales estimate coming in at $174.62 million and the lowest estimate coming in at $159.92 million. Gogo posted sales of $147.54 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The business is expected to issue its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Gogo will report full year sales of $168.39 million for the current year, with estimates ranging from $675.01 million to $698.04 million. For the next fiscal year, analysts anticipate that the business will post sales of $778.75 million per share, with estimates ranging from $725.58 million to $824.17 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Gogo.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.52) EPS for the quarter, meeting the consensus estimate of ($0.52). The business had revenue of $165.41 million during the quarter, compared to analysts’ expectations of $160.04 million. Gogo had a negative return on equity of 441.18% and a negative net margin of 22.89%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.31) EPS.
A number of equities analysts recently issued reports on GOGO shares. Zacks Investment Research raised Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, February 28th. Dougherty & Co increased their price objective on Gogo from $17.50 to $19.00 and gave the stock a “buy” rating in a report on Sunday, May 7th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Gogo currently has an average rating of “Buy” and an average price target of $14.67.
Institutional investors have recently modified their holdings of the stock. Searle & CO. purchased a new position in shares of Gogo during the fourth quarter worth about $101,000. Guggenheim Capital LLC raised its position in shares of Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock worth $107,000 after buying an additional 73 shares during the last quarter. Arxis Securities LLC purchased a new position in shares of Gogo during the first quarter worth about $112,000. Principal Financial Group Inc. purchased a new position in shares of Gogo during the first quarter worth about $114,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of Gogo by 3.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 12,595 shares of the technology company’s stock worth $116,000 after buying an additional 365 shares during the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.
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Gogo (NASDAQ:GOGO) traded up 0.24% during mid-day trading on Friday, hitting $12.71. The stock had a trading volume of 474,585 shares. The company has a 50-day moving average of $12.47 and a 200-day moving average of $10.53. Gogo has a 12-month low of $7.80 and a 12-month high of $13.69. The stock’s market cap is $1.10 billion.
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company 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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