Wall Street brokerages forecast that Gogo Inflight Internet (NASDAQ:GOGO) will report sales of $203.09 million for the current quarter, according to Zacks. Eight analysts have provided estimates for Gogo Inflight Internet’s earnings, with estimates ranging from $180.00 million to $229.70 million. Gogo Inflight Internet reported sales of $165.41 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.8%. The firm is expected to report its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Gogo Inflight Internet will report full-year sales of $867.81 million for the current year, with estimates ranging from $747.50 million to $907.98 million. For the next financial year, analysts anticipate that the company will post sales of $904.61 million per share, with estimates ranging from $808.80 million to $979.22 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Gogo Inflight Internet.
Gogo Inflight Internet (NASDAQ:GOGO) last posted its earnings results on Thursday, February 22nd. The technology company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The company had revenue of $188.00 million during the quarter, compared to analyst estimates of $181.44 million. The company’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) earnings per share.
A number of research analysts recently weighed in on GOGO shares. William Blair reissued a “buy” rating on shares of Gogo Inflight Internet in a report on Thursday, February 15th. BidaskClub raised Gogo Inflight Internet from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Zacks Investment Research raised Gogo Inflight Internet from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. ValuEngine raised Gogo Inflight Internet from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Finally, JPMorgan Chase lowered Gogo Inflight Internet from an “overweight” rating to a “neutral” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Gogo Inflight Internet has an average rating of “Hold” and an average target price of $13.80.
In other news, Director Charles C. Townsend acquired 100,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were purchased at an average cost of $9.32 per share, with a total value of $932,000.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 37.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP acquired a new position in Gogo Inflight Internet in the 4th quarter valued at $1,092,000. Gabelli Funds LLC grew its holdings in Gogo Inflight Internet by 5.5% in the 4th quarter. Gabelli Funds LLC now owns 1,757,700 shares of the technology company’s stock valued at $19,827,000 after buying an additional 91,200 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in Gogo Inflight Internet by 3.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,603,428 shares of the technology company’s stock valued at $18,087,000 after buying an additional 51,226 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Gogo Inflight Internet by 10.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 289,475 shares of the technology company’s stock valued at $3,419,000 after buying an additional 27,186 shares in the last quarter. Finally, Granahan Investment Management Inc. MA acquired a new position in Gogo Inflight Internet in the 3rd quarter valued at $431,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GOGO stock traded down $0.43 during trading on Friday, reaching $9.25. 1,077,564 shares of the company’s stock were exchanged, compared to its average volume of 1,055,098. The company has a current ratio of 1.87, a quick ratio of 1.73 and a debt-to-equity ratio of -5.22. The firm has a market capitalization of $811.12, a PE ratio of -4.26 and a beta of 1.45. Gogo Inflight Internet has a twelve month low of $8.02 and a twelve month high of $14.76.
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Gogo Inflight Internet Company Profile
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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