Equities analysts expect Global Eagle Entertainment Inc (NASDAQ:ENT) to report ($0.39) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Global Eagle Entertainment’s earnings. The highest EPS estimate is ($0.37) and the lowest is ($0.40). Global Eagle Entertainment reported earnings per share of ($0.47) during the same quarter last year, which indicates a positive year-over-year growth rate of 17%. The business 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 earnings of ($1.60) per share for the current financial year, with EPS estimates ranging from ($1.62) to ($1.57). For the next fiscal year, analysts forecast that the business will report earnings of ($1.36) per share. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Global Eagle Entertainment.
Global Eagle Entertainment (NASDAQ:ENT) last released its earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share (EPS) 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 analysts’ expectations of $165.53 million.
Several equities research analysts have issued reports on ENT shares. Zacks Investment Research downgraded shares of Global Eagle Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Northland Securities reiterated a “buy” rating and issued a $1.50 price target on shares of Global Eagle Entertainment in a research report on Friday, August 9th. Finally, ValuEngine cut shares of Global Eagle Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $1.14.
Shares of NASDAQ ENT traded up $0.01 during mid-day trading on Friday, hitting $0.63. The company had a trading volume of 112,290 shares, compared to its average volume of 225,021. Global Eagle Entertainment has a one year low of $0.42 and a one year high of $3.05. The firm has a 50-day simple moving average of $0.69 and a two-hundred day simple moving average of $1.12.
In other news, Director Ronald Steger acquired 50,000 shares of Global Eagle Entertainment stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $0.66 per share, with a total value of $33,000.00. Following the transaction, the director now owns 309,379 shares of the company’s stock, valued at approximately $204,190.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Par Investment Partners Lp sold 28,981,072 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $0.25, for a total transaction of $7,245,268.00. The disclosure for this sale can be found here. Insiders purchased a total of 5,695,000 shares of company stock worth $1,879,600 in the last 90 days. 8.70% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in ENT. Tenzing Global Management LLC increased its stake in Global Eagle Entertainment by 46.7% during the second quarter. Tenzing Global Management LLC now owns 1,100,000 shares of the company’s stock worth $715,000 after purchasing an additional 350,000 shares during the period. Searchlight Capital Partners L.P. increased its stake in Global Eagle Entertainment by 257.5% during the second quarter. Searchlight Capital Partners L.P. now owns 6,941,707 shares of the company’s stock worth $4,512,000 after purchasing an additional 5,000,000 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Global Eagle Entertainment by 103.1% during the second quarter. Jacobs Levy Equity Management Inc. now owns 423,649 shares of the company’s stock worth $275,000 after purchasing an additional 215,041 shares during the period. Wells Fargo & Company MN increased its stake in Global Eagle Entertainment by 2.1% during the second quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock worth $797,000 after purchasing an additional 24,787 shares during the period. Finally, Frontier Capital Management Co. LLC increased its stake in Global Eagle Entertainment by 5.0% during the first quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock worth $4,210,000 after purchasing an additional 282,368 shares during the period. 74.05% of the stock is owned by hedge funds and other institutional investors.
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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