Analysts expect Global Eagle Entertainment Inc (NASDAQ:ENT) to announce $159.33 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Global Eagle Entertainment’s earnings. The highest sales estimate is $167.25 million and the lowest is $151.40 million. Global Eagle Entertainment reported sales of $164.03 million during the same quarter last year, which indicates a negative year over year growth rate of 2.9%. The company is scheduled to report its next quarterly earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Global Eagle Entertainment will report full-year sales of $645.73 million for the current fiscal year, with estimates ranging from $628.60 million to $662.86 million. For the next financial year, analysts anticipate that the firm will report sales of $608.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Global Eagle Entertainment.
Global Eagle Entertainment (NASDAQ:ENT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). The business had revenue of $157.47 million during the quarter, compared to the consensus estimate of $165.53 million.
ENT has been the subject of several research reports. Northland Securities restated a “buy” rating and set a $1.50 price objective on shares of Global Eagle Entertainment in a research report on Friday, August 9th. Zacks Investment Research downgraded Global Eagle Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Finally, ValuEngine downgraded Global Eagle Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $1.14.
Shares of Global Eagle Entertainment stock traded up $0.01 during trading on Tuesday, hitting $0.63. 112,290 shares of the company were exchanged, compared to its average volume of 225,021. Global Eagle Entertainment has a fifty-two week low of $0.42 and a fifty-two week high of $3.05. The firm has a 50 day moving average price of $0.69 and a 200 day moving average price of $1.12.
In other news, major shareholder Par Investment Partners Lp sold 28,981,072 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $0.25, for a total value of $7,245,268.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey A. Leddy bought 400,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $0.54 per share, for a total transaction of $216,000.00. Following the purchase, the insider now owns 1,249,284 shares in the company, valued at approximately $674,613.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,695,000 shares of company stock valued at $1,879,600. 8.70% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its stake in shares of Global Eagle Entertainment by 103.1% in the second quarter. Jacobs Levy Equity Management Inc. now owns 423,649 shares of the company’s stock valued at $275,000 after purchasing an additional 215,041 shares during the period. Tenzing Global Management LLC increased its stake in shares of Global Eagle Entertainment by 46.7% in the second quarter. Tenzing Global Management LLC now owns 1,100,000 shares of the company’s stock valued at $715,000 after purchasing an additional 350,000 shares during the period. Wells Fargo & Company MN increased its stake in shares of Global Eagle Entertainment by 2.1% in the second quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock valued at $797,000 after purchasing an additional 24,787 shares during the period. BlackRock Inc. increased its stake in shares of Global Eagle Entertainment by 0.5% in the fourth quarter. BlackRock Inc. now owns 866,717 shares of the company’s stock valued at $1,933,000 after purchasing an additional 4,306 shares during the period. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Global Eagle Entertainment by 5.0% in the first quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock valued at $4,210,000 after purchasing an additional 282,368 shares during the period. Institutional investors and hedge funds own 74.05% of the company’s stock.
About Global Eagle Entertainment
Global Eagle Entertainment Inc provides media and satellite-based connectivity to enterprise, consumer, and government markets worldwide. The company operates through two segments, Media & Content and Connectivity. The Media & Content buys, produces, manages, distributes, and provides post-production services and wholly-owned and licensed media content, video and music programming, advertising, applications, and video games for and to the airline, maritime, and other away from home non-theatrical markets.
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