Zacks: Brokerages Expect Gogo Inc. (GOGO) Will Post Earnings of -$0.48 Per Share
Equities analysts expect Gogo Inc. (NASDAQ:GOGO) to announce ($0.48) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Gogo’s earnings. The highest EPS estimate is ($0.41) and the lowest is ($0.58). Gogo reported earnings per share of ($0.31) in the same quarter last year, which suggests a negative year-over-year growth rate of 54.8%. The company is scheduled to report its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Gogo will report full year earnings of ($1.93) per share for the current year, with EPS estimates ranging from ($2.01) to ($1.78). For the next year, analysts forecast that the business will post earnings of ($1.47) per share, with EPS estimates ranging from ($1.82) to ($0.86). Zacks’ EPS averages are an average based on a survey of analysts that follow Gogo.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.52). The business had revenue of $165.41 million during the quarter, compared to the consensus estimate of $160.04 million. Gogo had a negative net margin of 22.86% and a negative return on equity of 441.18%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.31) EPS.
A number of brokerages recently weighed in on GOGO. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research note on Tuesday, February 28th. Dougherty & Co lifted their price objective on shares of Gogo from $16.00 to $17.50 and gave the company a “buy” rating in a research note on Monday, May 1st. Raymond James Financial, Inc. began coverage on shares of Gogo in a research note on Wednesday, May 31st. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Gogo presently has an average rating of “Buy” and an average price target of $14.71.
Gogo (NASDAQ:GOGO) opened at 12.14 on Tuesday. Gogo has a one year low of $7.80 and a one year high of $13.69. The stock has a 50 day moving average of $12.47 and a 200-day moving average of $10.85. The stock’s market cap is $1.05 billion.
Several large investors have recently modified their holdings of the stock. Searle & CO. bought a new stake in shares of Gogo during the fourth quarter worth $101,000. Guggenheim Capital LLC boosted its stake 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 in the last quarter. Arxis Securities LLC bought a new stake in shares of Gogo during the first quarter worth $112,000. Principal Financial Group Inc. bought a new stake in shares of Gogo during the first quarter worth $114,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 64.62% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Expect Gogo Inc. (GOGO) Will Post Earnings of -$0.48 Per Share” was first published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/06/20/zacks-brokerages-expect-gogo-inc-gogo-will-post-earnings-of-0-48-per-share.html.
Gogo Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gogo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo Inc. and related companies with MarketBeat.com's FREE daily email newsletter.