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.

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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).

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