Brokerages expect Global Eagle Entertainment Inc (NASDAQ:ENT) to report $165.53 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Global Eagle Entertainment’s earnings, with the lowest sales estimate coming in at $165.25 million and the highest estimate coming in at $165.80 million. Global Eagle Entertainment posted sales of $165.96 million in the same quarter last year, which suggests a negative year over year growth rate of 0.3%. The business is scheduled to report its next earnings report on Thursday, August 8th.
On average, analysts expect that Global Eagle Entertainment will report full year sales of $666.82 million for the current fiscal year, with estimates ranging from $663.00 million to $670.65 million. For the next fiscal year, analysts expect that the business will post sales of $659.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Global Eagle Entertainment.
Global Eagle Entertainment (NASDAQ:ENT) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.01). The company had revenue of $166.62 million for the quarter, compared to analyst estimates of $156.24 million.
Shares of NASDAQ ENT traded down $0.02 during trading hours on Friday, hitting $0.68. 49,893 shares of the stock were exchanged, compared to its average volume of 853,967. The firm has a market cap of $62.81 million, a P/E ratio of -0.26 and a beta of 1.35. The firm has a fifty day moving average of $0.67. Global Eagle Entertainment has a 1-year low of $0.42 and a 1-year high of $3.05.
In other Global Eagle Entertainment news, insider Jeffrey A. Leddy purchased 50,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average price of $1.15 per share, with a total value of $57,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Par Investment Partners Lp sold 28,981,072 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $0.25, for a total transaction of $7,245,268.00. The disclosure for this sale can be found here. Insiders acquired 5,711,012 shares of company stock worth $1,929,110 in the last 90 days. Company insiders own 3.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC increased its stake in shares of Global Eagle Entertainment by 5.0% in the first quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock worth $4,210,000 after purchasing an additional 282,368 shares during the period. Two Sigma Securities LLC bought a new position in shares of Global Eagle Entertainment in the fourth quarter worth about $85,000. Finally, BlackRock Inc. increased its stake in shares of Global Eagle Entertainment by 0.5% in the fourth quarter. BlackRock Inc. now owns 866,717 shares of the company’s stock worth $1,933,000 after purchasing an additional 4,306 shares during the period. 74.11% of the stock is owned by hedge funds and other institutional investors.
Global Eagle Entertainment Company Profile
Global Eagle Entertainment Inc provides media and satellite-based connectivity to enterprise, consumer, and government markets worldwide. The company operates through two segments, Media & Content and Connectivity. The Media & Content buys, produces, manages, distributes, and provides post-production services and wholly-owned and licensed media content, video and music programming, advertising, applications, and video games for and to the airline, maritime, and other away from home non-theatrical markets.
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