Zacks: Analysts Anticipate Gogo Inc (GOGO) Will Announce Earnings of -$0.71 Per Share

Brokerages expect Gogo Inc (NASDAQ:GOGO) to announce ($0.71) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Gogo’s earnings, with estimates ranging from ($0.85) to ($0.61). Gogo posted earnings of ($0.57) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 24.6%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Gogo will report full-year earnings of ($2.16) per share for the current fiscal year, with EPS estimates ranging from ($2.23) to ($2.11). For the next year, analysts expect that the firm will post earnings of ($2.21) per share, with EPS estimates ranging from ($2.66) to ($1.67). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Gogo.

Gogo (NASDAQ:GOGO) last released its earnings results on Wednesday, August 8th. The technology company reported ($0.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.27. The firm had revenue of $227.50 million during the quarter, compared to analysts’ expectations of $207.64 million. During the same period in the previous year, the firm posted ($0.56) earnings per share. The firm’s revenue was up 31.7% on a year-over-year basis.

Several analysts have recently issued reports on GOGO shares. BidaskClub raised shares of Gogo from a “hold” rating to a “buy” rating in a research note on Saturday, October 6th. Raymond James cut shares of Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price objective for the company. in a research note on Tuesday, July 24th. Zacks Investment Research cut shares of Gogo from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. ValuEngine cut shares of Gogo from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Finally, William Blair cut shares of Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.38.

Shares of NASDAQ GOGO traded down $0.33 during trading on Thursday, hitting $5.87. 118,965 shares of the company traded hands, compared to its average volume of 1,526,316. Gogo has a 1 year low of $3.52 and a 1 year high of $11.75. The stock has a market capitalization of $453.35 million, a PE ratio of -2.71 and a beta of 1.13. The company has a quick ratio of 1.43, a current ratio of 2.01 and a debt-to-equity ratio of -4.44.

Several hedge funds and other institutional investors have recently made changes to their positions in GOGO. HighPoint Advisor Group LLC acquired a new position in shares of Gogo during the 2nd quarter valued at $109,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Gogo by 57.1% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 55,000 shares of the technology company’s stock valued at $267,000 after acquiring an additional 20,000 shares in the last quarter. Teton Advisors Inc. acquired a new position in shares of Gogo during the 2nd quarter valued at $292,000. Engineers Gate Manager LP lifted its holdings in shares of Gogo by 34.8% during the 2nd quarter. Engineers Gate Manager LP now owns 132,288 shares of the technology company’s stock valued at $643,000 after acquiring an additional 34,147 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC lifted its holdings in shares of Gogo by 52.8% during the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 159,161 shares of the technology company’s stock valued at $774,000 after acquiring an additional 55,000 shares in the last quarter. 67.59% of the stock is owned by institutional investors.

Gogo 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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Earnings History and Estimates for Gogo (NASDAQ:GOGO)

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