Zacks: Analysts Expect Global Eagle Entertainment Inc. (ENT) Will Post Quarterly Sales of $158.91 Million
Equities research analysts predict that Global Eagle Entertainment Inc. (NASDAQ:ENT) will post sales of $158.91 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Global Eagle Entertainment’s earnings, with the lowest sales estimate coming in at $158.01 million and the highest estimate coming in at $160.33 million. Global Eagle Entertainment reported sales of $113.82 million in the same quarter last year, which indicates a positive year over year growth rate of 39.6%. The business is expected to announce its next earnings report on Monday, June 19th.
On average, analysts expect that Global Eagle Entertainment will report full year sales of $158.91 million for the current year, with estimates ranging from $634.80 million to $654.10 million. For the next fiscal year, analysts anticipate that the business will post sales of $685.47 million per share, with estimates ranging from $641.00 million to $722.66 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Global Eagle Entertainment.
Several equities analysts recently issued reports on ENT shares. Piper Jaffray Companies lowered Global Eagle Entertainment from an “overweight” rating to a “neutral” rating in a research note on Tuesday, February 21st. Citigroup Inc. lowered Global Eagle Entertainment from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 22nd. Finally, Dougherty & Co lowered Global Eagle Entertainment from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.75.
Global Eagle Entertainment (ENT) traded up 7.12% during mid-day trading on Thursday, reaching $3.16. The company’s stock had a trading volume of 1,588,004 shares. The stock’s market cap is $269.58 million. The firm’s 50 day moving average price is $3.03 and its 200 day moving average price is $4.63. Global Eagle Entertainment has a 12-month low of $2.61 and a 12-month high of $9.73.
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About Global Eagle Entertainment
Global Eagle Entertainment Inc is a provider of aircraft connectivity systems, operations solutions and media content to the travel industry. The Company’s segments include Connectivity and Content. Its Connectivity segment provides airline partners and their passengers with Wireless Fidelity (Wi-Fi) connectivity over Ku-band satellite transmissions, and to a lesser extent operations solutions to airline customers.
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