Gogo Inc. (NASDAQ:GOGO) – Research analysts at Dougherty & Co reduced their FY2017 earnings per share estimates for shares of Gogo in a report released on Monday. Dougherty & Co analyst R. Ryan now anticipates that the brokerage will post earnings per share of ($1.60) for the year, down from their prior forecast of ($1.57). Dougherty & Co currently has a “Buy” rating and a $14.00 target price on the stock. Dougherty & Co also issued estimates for Gogo’s FY2018 earnings at ($0.95) EPS, FY2019 earnings at ($0.23) EPS and FY2020 earnings at $0.97 EPS.
Several other equities analysts have also recently commented on GOGO. Zacks Investment Research cut shares of Gogo from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Standpoint Research cut shares of Gogo from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. JPMorgan Chase & Co. lowered their target price on shares of Gogo from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 5th. Morgan Stanley lowered their target price on shares of Gogo from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, July 28th. Finally, William Blair reissued an “outperform” rating on shares of Gogo in a research note on Friday, September 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $13.60.
Shares of Gogo (NASDAQ:GOGO) opened at 11.27 on Wednesday. The stock’s market cap is $971.20 million. The company’s 50-day moving average is $11.94 and its 200-day moving average is $10.35. Gogo has a 12-month low of $7.80 and a 12-month high of $19.61.
Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.11. The company had revenue of $147.50 million for the quarter, compared to analysts’ expectations of $141.46 million. Gogo had a negative return on equity of 204.51% and a negative net margin of 22.95%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) EPS.
In other news, Director Charles C. Townsend bought 200,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was bought at an average cost of $10.73 per share, for a total transaction of $2,146,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles C. Townsend bought 52,867 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was purchased at an average price of $11.84 per share, with a total value of $625,945.28. The disclosure for this purchase can be found here. 37.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in GOGO. Lazard Asset Management LLC purchased a new position in shares of Gogo during the first quarter valued at approximately $155,000. Gabelli Funds LLC boosted its position in shares of Gogo by 31.0% in the second quarter. Gabelli Funds LLC now owns 2,255,500 shares of the company’s stock valued at $18,924,000 after buying an additional 534,000 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Gogo during the first quarter valued at approximately $273,000. A.R.T. Advisors LLC purchased a new position in shares of Gogo during the first quarter valued at approximately $2,295,000. Finally, Quantbot Technologies LP boosted its position in shares of Gogo by 29.3% in the second quarter. Quantbot Technologies LP now owns 27,845 shares of the company’s stock valued at $233,000 after buying an additional 6,307 shares during the last quarter. Institutional investors own 74.33% of the company’s stock.
Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. 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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