|Bid||13.35 x 3100|
|Ask||13.58 x 800|
|Day's Range||11.96 - 13.47|
|52 Week Range||1.33 - 17.23|
|Beta (5Y Monthly)||1.30|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 11, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.75|
Gogo Inc. (NASDAQ: GOGO), the leading global provider of network and broadband connectivity products and services for business aviation, today announced that it will release its financial results for the fourth quarter of 2020 before the market opens on March 11, 2021. The Company will host a conference call with financial analysts the same day at 8:30 a.m. (ET).
Looking at Q3, Gogo (NASDAQ:GOGO) earned $22.22 million, a 140.82% increase from the preceding quarter. Gogo's sales decreased to $66.53 million, a 31.16% change since Q2. Gogo collected $96.64 million in revenue during Q2, but reported earnings showed a $54.43 million loss. What Is ROCE? Changes in earnings and sales indicate shifts in Gogo's Return on Capital Employed, a measure of yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE suggests successful growth of a company and is a sign of higher earnings per share in the future. In Q3, Gogo posted an ROCE of -0.03%. It is important to keep in mind ROCE evaluates past performance and is not used as a predictive tool. It is a good measure of a company's recent performance, but several factors could affect earnings and sales in the near future. View more earnings on GOGO Return on Capital Employed is an important measurement of efficiency and a useful tool when comparing companies that operate in the same industry. A relatively high ROCE indicates a company may be generating profits that can be reinvested into more capital, leading to higher returns and growing EPS for shareholders. For Gogo, the return on capital employed ratio shows the current amount of assets may not actually be helping the company achieve higher returns, a note many investors will take into account when making long-term financial decisions. Q3 Earnings Recap Gogo reported Q3 earnings per share at $-0.11/share, which beat analyst predictions of $-0.77/share. See more from BenzingaClick here for options trades from BenzingaUnusual Options Activity Insight: GogoBenzinga's Top Ratings Upgrades, Downgrades For February 1, 2021© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of Gogo Inc (NASDAQ: GOGO), a provider of broadband connectivity solutions for the business aviation market, are "more than fully valued" after rising nearly 40% since the start of 2021, according to JPMorgan. The Gogo Analyst: Philip Cusick downgraded Gogo's stock from Neutral to Underweight with an unchanged $10 price target. The Gogo Thesis: Gogo's 2020 sale of its commercial aviation business translated into a "more simple" business structure with an exclusive focus on business aviation, Cusick wrote in the note. But the stock's recent momentum has more to do with Gogo's status as a heavily shorted stock. Momentum investors looking to capture further upside in Gogo's stock from the short covering fiasco may want to reconsider. The majority of Gogo's short interest is tied to its convertible debt so there is unlikely to be a further squeeze in the stock. Related Link: 70 Stocks Moving In Monday's Mid-Day Session "Assuming Gogo uses equity to address the convert implies an additional 38m shares or 95% increase in the float, or 16m shares if GOGO instead used equity for 42% of them and targeted leverage of 5.0x 2021 EBITDA," the analyst wrote. Meanwhile, Gogo hasn't communicated to investors its 5G upgrade plans, although a launch should come in 2022, the analyst wrote. The network upgrade should set the company back $100 million and this would imply 2021 free cash flow would be "significantly negative." Gogo could partner with a Low Earth orbiting satellites (LEOs) provider to expand its offerings, but such a catalyst "seems quite far away" and investor excitement will likely be limited in the meantime. GOGO Price Action: Shares of Gogo were trading lower by more than 6% Monday afternoon at $12.51. (Photo: Gogo) Latest Ratings for GOGO DateFirmActionFromTo Feb 2021JP MorganDowngradesNeutralUnderweight Sep 2020Cowen & Co.DowngradesOutperformMarket Perform Mar 2020Morgan StanleyMaintainsUnderweight View More Analyst Ratings for GOGO View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaWhy JPMorgan Is Turning Bullish On Brazil's PagSeguro'I'll Take Two Tacos, Please': Chipotle Testing Carside Pickup© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.