-$0.39 Earnings Per Share Expected for Global Eagle Entertainment Inc (NASDAQ:ENT) This Quarter

Wall Street analysts predict that Global Eagle Entertainment Inc (NASDAQ:ENT) will post ($0.39) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Global Eagle Entertainment’s earnings. The lowest EPS estimate is ($0.40) and the highest is ($0.37). Global Eagle Entertainment posted earnings per share of ($0.47) in the same quarter last year, which would indicate a positive year-over-year growth rate of 17%. The business is scheduled to issue its next earnings results on Thursday, November 14th.

On average, analysts expect that Global Eagle Entertainment will report full-year earnings of ($1.60) per share for the current year, with EPS estimates ranging from ($1.62) to ($1.57). For the next financial year, analysts expect that the business will post earnings of ($1.36) per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Global Eagle Entertainment.

Global Eagle Entertainment (NASDAQ:ENT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The business had revenue of $157.47 million for the quarter, compared to analyst estimates of $165.53 million.

A number of analysts recently weighed in on the company. ValuEngine downgraded Global Eagle Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Zacks Investment Research lowered shares of Global Eagle Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Northland Securities restated a “buy” rating and issued a $1.50 target price on shares of Global Eagle Entertainment in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.14.

In other Global Eagle Entertainment news, insider Jeffrey A. Leddy acquired 400,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was bought at an average cost of $0.54 per share, with a total value of $216,000.00. Following the acquisition, the insider now owns 1,249,284 shares in the company, valued at $674,613.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Par Investment Partners Lp sold 28,981,072 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was 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. In the last 90 days, insiders have bought 5,695,000 shares of company stock valued at $1,879,600. 8.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Global Eagle Entertainment by 0.5% in the 4th quarter. BlackRock Inc. now owns 866,717 shares of the company’s stock valued at $1,933,000 after purchasing an additional 4,306 shares during the period. Wells Fargo & Company MN boosted its holdings in Global Eagle Entertainment by 2.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock valued at $797,000 after purchasing an additional 24,787 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Global Eagle Entertainment by 103.1% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 423,649 shares of the company’s stock valued at $275,000 after purchasing an additional 215,041 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Global Eagle Entertainment by 5.0% in the 1st quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock valued at $4,210,000 after purchasing an additional 282,368 shares during the period. Finally, Tenzing Global Management LLC boosted its holdings in Global Eagle Entertainment by 46.7% in the 2nd quarter. Tenzing Global Management LLC now owns 1,100,000 shares of the company’s stock valued at $715,000 after purchasing an additional 350,000 shares during the period. 74.05% of the stock is owned by institutional investors.

Shares of NASDAQ:ENT traded up $0.01 during trading on Friday, hitting $0.63. 16,541 shares of the company were exchanged, compared to its average volume of 222,276. The company has a market capitalization of $58.29 million, a P/E ratio of -0.24 and a beta of 1.32. Global Eagle Entertainment has a 1-year low of $0.42 and a 1-year high of $3.05. The business’s 50 day moving average is $0.69 and its 200-day moving average is $1.13.

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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