Zacks: Brokerages Anticipate Gogo Inc (GOGO) Will Announce Quarterly Sales of $181.65 Million

Equities analysts expect Gogo Inc (NASDAQ:GOGO) to post $181.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Gogo’s earnings, with the highest sales estimate coming in at $187.11 million and the lowest estimate coming in at $174.30 million. Gogo posted sales of $160.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.5%. The business is expected to report its next quarterly earnings results on Monday, February 26th.

According to Zacks, analysts expect that Gogo will report full-year sales of $181.65 million for the current year, with estimates ranging from $685.40 million to $698.19 million. For the next fiscal year, analysts forecast that the company will report sales of $774.82 million per share, with estimates ranging from $747.50 million to $819.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Gogo.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.06). The company had revenue of $172.87 million during the quarter, compared to the consensus estimate of $172.92 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.42) earnings per share.

GOGO has been the topic of several recent research reports. ValuEngine cut Gogo from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Guggenheim reaffirmed a “buy” rating and issued a $16.00 price target on shares of Gogo in a research note on Monday, October 9th. Zacks Investment Research raised Gogo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.35.

Shares of Gogo (NASDAQ:GOGO) traded down $0.06 during mid-day trading on Friday, reaching $10.13. The company had a trading volume of 472,900 shares, compared to its average volume of 754,317. The stock has a market capitalization of $884.21, a PE ratio of -5.09 and a beta of 1.69. Gogo has a 12 month low of $8.56 and a 12 month high of $14.76. The company has a debt-to-equity ratio of -6.40, a quick ratio of 2.02 and a current ratio of 2.20.

In related news, insider Michael Small bought 100,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were acquired at an average cost of $8.79 per share, with a total value of $879,000.00. Following the completion of the acquisition, the insider now owns 398,224 shares of the company’s stock, valued at approximately $3,500,388.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 37.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in GOGO. Verition Fund Management LLC boosted its holdings in Gogo by 37.3% in the second quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock worth $168,000 after acquiring an additional 3,963 shares in the last quarter. National Asset Management Inc. bought a new stake in Gogo in the second quarter worth $172,000. Legal & General Group Plc boosted its holdings in Gogo by 3.8% in the second quarter. Legal & General Group Plc now owns 15,326 shares of the technology company’s stock worth $178,000 after acquiring an additional 556 shares in the last quarter. Laurion Capital Management LP bought a new stake in Gogo in the second quarter worth $223,000. Finally, Premier Asset Management LLC bought a new stake in Gogo in the third quarter worth $232,000. 69.82% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This piece was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/19/zacks-brokerages-anticipate-gogo-inc-gogo-will-announce-quarterly-sales-of-181-65-million-2.html.

About Gogo

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).

Get a free copy of the Zacks research report on Gogo (GOGO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Gogo (NASDAQ:GOGO)

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.

Leave a Reply