Zacks: Brokerages Expect Gogo Inc. (NASDAQ:GOGO) Will Post Earnings of -$0.04 Per Share

Brokerages forecast that Gogo Inc. (NASDAQ:GOGO) will announce earnings per share of ($0.04) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Gogo’s earnings. The highest EPS estimate is $0.02 and the lowest is ($0.12). Gogo reported earnings per share of ($1.04) in the same quarter last year, which would indicate a positive year-over-year growth rate of 96.2%. The company is scheduled to report its next earnings report on Monday, August 9th.

On average, analysts expect that Gogo will report full-year earnings of $0.06 per share for the current fiscal year, with EPS estimates ranging from ($0.08) to $0.12. For the next fiscal year, analysts forecast that the company will report earnings of $0.45 per share, with EPS estimates ranging from $0.24 to $0.60. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Gogo.

Gogo (NASDAQ:GOGO) last issued its earnings results on Thursday, May 6th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. The business had revenue of $73.90 million for the quarter, compared to analyst estimates of $73.85 million. During the same period last year, the business posted ($1.04) EPS. Gogo’s revenue was up 4.2% on a year-over-year basis.

GOGO has been the topic of several analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $13.00 target price on shares of Gogo in a research note on Monday, March 1st. Zacks Investment Research downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Wednesday, March 17th. JPMorgan Chase & Co. cut Gogo from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a report on Monday, February 1st. William Blair raised Gogo from a “market perform” rating to an “outperform” rating in a report on Sunday, April 4th. Finally, Cowen boosted their price target on Gogo from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.67.

In other Gogo news, Director Robert L. Crandall bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The stock was purchased at an average cost of $11.44 per share, for a total transaction of $572,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 40.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Gtcr LLC purchased a new stake in Gogo during the fourth quarter valued at about $122,055,000. BlackRock Inc. grew its position in Gogo by 3.0% during the first quarter. BlackRock Inc. now owns 3,921,438 shares of the technology company’s stock valued at $37,882,000 after acquiring an additional 115,985 shares during the period. Sycale Advisors NY LLC grew its position in Gogo by 53.2% during the first quarter. Sycale Advisors NY LLC now owns 723,738 shares of the technology company’s stock valued at $6,991,000 after acquiring an additional 251,295 shares during the period. Northern Trust Corp grew its position in Gogo by 1.5% during the fourth quarter. Northern Trust Corp now owns 629,058 shares of the technology company’s stock valued at $6,058,000 after acquiring an additional 9,130 shares during the period. Finally, Morgan Stanley grew its position in Gogo by 42.7% during the fourth quarter. Morgan Stanley now owns 509,086 shares of the technology company’s stock valued at $4,902,000 after acquiring an additional 152,338 shares during the period. 43.32% of the stock is owned by hedge funds and other institutional investors.

GOGO traded down $0.59 during trading on Wednesday, hitting $11.02. 2,892,961 shares of the stock were exchanged, compared to its average volume of 2,734,269. The stock has a fifty day moving average price of $10.40 and a two-hundred day moving average price of $10.88. Gogo has a 1-year low of $1.50 and a 1-year high of $17.23. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.30 and a beta of 1.48.

About Gogo

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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