Gogo (NASDAQ:GOGO) Releases Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Share on StockTwits

Gogo (NASDAQ:GOGO) released its quarterly earnings data on Thursday. The technology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.29, Briefing.com reports. The company had revenue of $201.18 million for the quarter, compared to the consensus estimate of $206.07 million. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) EPS.

Shares of GOGO stock traded up $0.02 on Friday, reaching $6.50. The company’s stock had a trading volume of 2,653,900 shares, compared to its average volume of 1,622,084. The stock’s fifty day simple moving average is $5.99 and its 200-day simple moving average is $5.03. The company has a market capitalization of $570.68 million, a price-to-earnings ratio of -3.55 and a beta of 1.05. Gogo has a 1 year low of $2.64 and a 1 year high of $7.23.

In other news, Director Charles C. Townsend bought 45,200 shares of Gogo stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $3.99 per share, for a total transaction of $180,348.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles C. Townsend bought 100,000 shares of Gogo stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $4.43 per share, with a total value of $443,000.00. Following the completion of the acquisition, the director now directly owns 109,844 shares of the company’s stock, valued at approximately $486,608.92. The disclosure for this purchase can be found here. Insiders purchased 265,851 shares of company stock valued at $1,101,013 over the last 90 days. 41.50% of the stock is currently owned by corporate insiders.

Several research firms have recently issued reports on GOGO. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Gogo from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Thursday, October 31st. BidaskClub upgraded shares of Gogo from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, William Blair reissued a “buy” rating on shares of Gogo in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.38.

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).

See Also: Benefits of owning preferred stock

Earnings History for Gogo (NASDAQ:GOGO)

Receive News & Ratings for Gogo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.