Brokerages Expect Gogo Inc (GOGO) Will Announce Quarterly Sales of $197.62 Million

Wall Street brokerages predict that Gogo Inc (NASDAQ:GOGO) will report sales of $197.62 million for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Gogo’s earnings. The highest sales estimate is $226.43 million and the lowest is $180.00 million. Gogo posted sales of $165.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.5%. The business is expected to report its next earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Gogo will report full year sales of $197.62 million for the current fiscal year, with estimates ranging from $747.50 million to $889.70 million. For the next fiscal year, analysts anticipate that the firm will post sales of $880.69 million per share, with estimates ranging from $808.80 million to $943.87 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Gogo.

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Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $188.00 million for the quarter, compared to analyst estimates of $181.44 million. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.34) earnings per share.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Gogo from an “overweight” rating to a “neutral” rating in a research note on Friday, February 23rd. Zacks Investment Research raised shares of Gogo from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. William Blair reissued a “buy” rating on shares of Gogo in a research note on Thursday, February 15th. Finally, BidaskClub raised shares of Gogo from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Gogo currently has an average rating of “Hold” and a consensus price target of $13.80.

In other Gogo news, Director Charles C. Townsend bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were purchased at an average cost of $9.32 per share, with a total value of $932,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 37.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC increased its position in shares of Gogo by 3.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,603,428 shares of the technology company’s stock valued at $18,087,000 after purchasing an additional 51,226 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Gogo by 5.5% in the 4th quarter. Gabelli Funds LLC now owns 1,757,700 shares of the technology company’s stock valued at $19,827,000 after purchasing an additional 91,200 shares during the last quarter. Billings Capital Management LLC increased its position in shares of Gogo by 6.7% in the 3rd quarter. Billings Capital Management LLC now owns 2,947,085 shares of the technology company’s stock valued at $34,805,000 after purchasing an additional 184,386 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Gogo by 10.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 289,475 shares of the technology company’s stock valued at $3,419,000 after purchasing an additional 27,186 shares during the last quarter. Finally, Granahan Investment Management Inc. MA purchased a new stake in shares of Gogo in the 3rd quarter valued at approximately $431,000. 77.65% of the stock is currently owned by hedge funds and other institutional investors.

Gogo (NASDAQ:GOGO) traded down $0.36 during trading on Friday, hitting $9.23. 538,756 shares of the stock were exchanged, compared to its average volume of 1,400,000. The stock has a market cap of $800.91, a P/E ratio of -4.25 and a beta of 1.45. Gogo has a twelve month low of $8.52 and a twelve month high of $14.76. The company has a quick ratio of 1.73, a current ratio of 1.87 and a debt-to-equity ratio of -5.22.

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About Gogo

Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company 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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