Gogo Inc. (GOGO) to Post Q1 2019 Earnings of ($0.19) Per Share, William Blair Forecasts
Gogo Inc. (NASDAQ:GOGO) – Investment analysts at William Blair issued their Q1 2019 earnings estimates for shares of Gogo in a note issued to investors on Monday. William Blair analyst J. Breen forecasts that the technology company will earn ($0.19) per share for the quarter. William Blair also issued estimates for Gogo’s Q2 2019 earnings at ($0.15) EPS and Q3 2019 earnings at ($0.03) EPS.
Several other research analysts have also weighed in on the company. Zacks Investment Research raised Gogo from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. ValuEngine lowered Gogo from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Northland Securities started coverage on Gogo in a research report on Tuesday, September 19th. They set an “under perform” rating and a $6.75 price target on the stock. Guggenheim reissued a “buy” rating and set a $16.00 price target on shares of Gogo in a research report on Monday, October 9th. Finally, BidaskClub raised Gogo from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $14.35.
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Gogo (GOGO) traded up $0.06 during trading hours on Thursday, reaching $10.11. The company had a trading volume of 235,712 shares, compared to its average volume of 1,043,162. Gogo has a 52-week low of $8.56 and a 52-week high of $14.76. The company has a current ratio of 2.20, a quick ratio of 2.02 and a debt-to-equity ratio of -6.40.
Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). The firm had revenue of $172.87 million during the quarter, compared to the consensus estimate of $172.92 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.42) earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in Gogo by 17.2% in the third quarter. Public Employees Retirement System of Ohio now owns 138,478 shares of the technology company’s stock valued at $1,635,000 after purchasing an additional 20,310 shares in the last quarter. Billings Capital Management LLC boosted its stake in shares of Gogo by 6.7% during the 3rd quarter. Billings Capital Management LLC now owns 2,947,085 shares of the technology company’s stock worth $34,805,000 after acquiring an additional 184,386 shares in the last quarter. Coe Capital Management LLC bought a new stake in shares of Gogo during the 3rd quarter worth about $823,000. Cubist Systematic Strategies LLC bought a new stake in shares of Gogo during the 3rd quarter worth about $243,000. Finally, Granahan Investment Management Inc. MA bought a new stake in shares of Gogo during the 3rd quarter worth about $431,000. Hedge funds and other institutional investors own 65.11% of the company’s stock.
In other news, insider Michael Small bought 100,000 shares of the stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $8.79 per share, for a total transaction of $879,000.00. Following the completion of the purchase, the insider now directly owns 398,224 shares of the company’s stock, valued at approximately $3,500,388.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 37.30% of the company’s stock.
Gogo Company Profile
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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