Analysts forecast that Gogo Inflight Internet (NASDAQ:GOGO) will post sales of $207.36 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Gogo Inflight Internet’s earnings. The lowest sales estimate is $192.30 million and the highest is $217.72 million. Gogo Inflight Internet posted sales of $172.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The business is scheduled to report its next earnings results on Monday, August 6th.
According to Zacks, analysts expect that Gogo Inflight Internet will report full year sales of $881.82 million for the current year, with estimates ranging from $854.40 million to $915.78 million. For the next year, analysts forecast that the firm will report sales of $909.95 million per share, with estimates ranging from $849.00 million to $979.22 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Gogo Inflight Internet.
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Gogo Inflight Internet (NASDAQ:GOGO) last announced its quarterly earnings data on Friday, May 4th. The technology company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.24. The business had revenue of $231.83 million for the quarter, compared to analyst estimates of $221.48 million. During the same period in the prior year, the company earned ($0.52) EPS. The company’s revenue was up 40.2% on a year-over-year basis.
A number of analysts have commented on the company. UBS downgraded Gogo Inflight Internet from a “buy” rating to a “neutral” rating in a research report on Monday. Northland Securities decreased their target price on Gogo Inflight Internet from $3.50 to $1.50 and set an “under perform” rating on the stock in a research report on Friday. Zacks Investment Research upgraded Gogo Inflight Internet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. BidaskClub upgraded Gogo Inflight Internet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, ValuEngine downgraded Gogo Inflight Internet from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Gogo Inflight Internet currently has an average rating of “Hold” and an average target price of $10.17.
In related news, Director Charles C. Townsend acquired 100,000 shares of Gogo Inflight Internet stock in a transaction dated Thursday, March 8th. The shares were acquired at an average cost of $9.32 per share, for a total transaction of $932,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. Mundheim acquired 10,000 shares of Gogo Inflight Internet stock in a transaction dated Monday, May 14th. The stock was bought at an average price of $5.50 per share, for a total transaction of $55,000.00. The disclosure for this purchase can be found here. Insiders bought 297,529 shares of company stock worth $1,980,904 over the last 90 days. Company insiders own 36.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Guggenheim Capital LLC lifted its position in Gogo Inflight Internet by 65.0% during the fourth quarter. Guggenheim Capital LLC now owns 18,850 shares of the technology company’s stock worth $213,000 after buying an additional 7,424 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Gogo Inflight Internet by 135.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,101 shares of the technology company’s stock worth $159,000 after buying an additional 8,100 shares during the period. Millennium Management LLC purchased a new position in Gogo Inflight Internet during the fourth quarter worth about $115,000. First Allied Advisory Services Inc. lifted its position in Gogo Inflight Internet by 18.3% during the fourth quarter. First Allied Advisory Services Inc. now owns 67,880 shares of the technology company’s stock worth $775,000 after buying an additional 10,520 shares during the period. Finally, FNY Managed Accounts LLC purchased a new position in Gogo Inflight Internet during the fourth quarter worth about $125,000. Institutional investors and hedge funds own 74.46% of the company’s stock.
GOGO traded down $0.13 during trading on Friday, reaching $5.16. 37,459 shares of the stock were exchanged, compared to its average volume of 1,317,932. The company has a debt-to-equity ratio of -5.26, a quick ratio of 1.69 and a current ratio of 2.30. The company has a market cap of $460.25 million, a price-to-earnings ratio of -2.38 and a beta of 1.43. Gogo Inflight Internet has a 1 year low of $5.05 and a 1 year high of $14.76.
Gogo Inflight Internet Company Profile
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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