Brokerages expect Gogo Inc. (NASDAQ:GOGO) to announce ($0.48) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Gogo’s earnings, with estimates ranging from ($0.58) to ($0.41). Gogo reported earnings of ($0.31) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 54.8%. The business is expected to report its next earnings report before the market opens on Monday, August 7th.
According to Zacks, analysts expect that Gogo will report full-year earnings of ($1.93) per share for the current financial year, with EPS estimates ranging from ($2.01) to ($1.78). For the next fiscal year, analysts forecast that the firm will post earnings of ($1.47) per share, with EPS estimates ranging from ($1.82) to ($0.86). Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Gogo.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.52). The firm had revenue of $165.41 million during the quarter, compared to analysts’ expectations of $160.04 million. Gogo’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) EPS.
GOGO has been the topic of a number of research analyst reports. Dougherty & Co lifted their target price on Gogo from $16.00 to $17.50 and gave the company a “buy” rating in a report on Monday, May 1st. Zacks Investment Research upgraded Gogo from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, May 3rd. UBS AG reiterated a “buy” rating and issued a $15.00 target price (up previously from $14.00) on shares of Gogo in a report on Friday, May 5th. Raymond James Financial, Inc. initiated coverage on Gogo in a report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 target price on the stock. Finally, ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Gogo by 2.1% in the first quarter. Vanguard Group Inc. now owns 4,488,838 shares of the technology company’s stock valued at $49,378,000 after buying an additional 91,297 shares during the period. Hodges Capital Management Inc. raised its position in Gogo by 47.0% in the first quarter. Hodges Capital Management Inc. now owns 4,109,815 shares of the technology company’s stock valued at $45,208,000 after buying an additional 1,314,245 shares during the period. Elk Creek Partners LLC raised its position in Gogo by 2.0% in the first quarter. Elk Creek Partners LLC now owns 1,779,289 shares of the technology company’s stock valued at $19,572,000 after buying an additional 35,659 shares during the period. Gamco Investors INC. ET AL raised its position in Gogo by 9.0% in the first quarter. Gamco Investors INC. ET AL now owns 1,002,700 shares of the technology company’s stock valued at $11,030,000 after buying an additional 82,600 shares during the period. Finally, State Street Corp raised its position in Gogo by 5.4% in the fourth quarter. State Street Corp now owns 993,673 shares of the technology company’s stock valued at $9,160,000 after buying an additional 51,032 shares during the period. 64.62% of the stock is currently owned by institutional investors.
Gogo (NASDAQ:GOGO) traded down 0.42% during midday trading on Friday, hitting $11.79. The company had a trading volume of 419,044 shares. The firm’s market cap is $1.02 billion. Gogo has a 52-week low of $8.20 and a 52-week high of $13.69. The stock has a 50 day moving average of $12.22 and a 200 day moving average of $10.97.
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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