Equities analysts forecast that Gogo Inc (NASDAQ:GOGO) will report sales of $210.17 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Gogo’s earnings. The lowest sales estimate is $200.40 million and the highest is $217.72 million. Gogo reported sales of $172.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.6%. The company is scheduled to announce its next earnings report on Monday, August 6th.
On average, analysts expect that Gogo will report full-year sales of $883.23 million for the current year, with estimates ranging from $848.40 million to $915.78 million. For the next year, analysts forecast that the company will report sales of $916.27 million per share, with estimates ranging from $849.00 million to $1.04 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Gogo.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Friday, May 4th. The technology company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.24. The company 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 business posted ($0.52) earnings per share. Gogo’s revenue for the quarter was up 40.2% on a year-over-year basis.
Shares of GOGO stock traded up $0.08 during mid-day trading on Thursday, hitting $5.10. 1,717,060 shares of the stock were exchanged, compared to its average volume of 1,669,078. The company has a quick ratio of 1.69, a current ratio of 2.30 and a debt-to-equity ratio of -5.26. Gogo has a 52-week low of $4.55 and a 52-week high of $14.76. The firm has a market cap of $436.76 million, a P/E ratio of -2.35 and a beta of 1.30.
In related news, Director Charles C. Townsend purchased 359,267 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were purchased at an average cost of $4.98 per share, with a total value of $1,789,149.66. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Thorndale Farm, Inc. purchased 146,915 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was bought at an average cost of $5.08 per share, for a total transaction of $746,328.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 844,444 shares of company stock worth $4,324,637. Corporate insiders own 36.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of GOGO. Schwab Charles Investment Management Inc. lifted its stake in Gogo by 4.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 302,220 shares of the technology company’s stock valued at $3,410,000 after buying an additional 12,745 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Gogo in the 4th quarter valued at about $214,000. First Trust Advisors LP purchased a new position in Gogo in the 4th quarter valued at about $1,092,000. First Allied Advisory Services Inc. lifted its stake in Gogo by 18.3% in the 4th quarter. First Allied Advisory Services Inc. now owns 67,880 shares of the technology company’s stock valued at $775,000 after buying an additional 10,520 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Gogo by 45.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 45,550 shares of the technology company’s stock valued at $514,000 after buying an additional 14,250 shares in the last quarter. 74.25% of the stock is currently owned by hedge funds and other institutional investors.
Gogo 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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