Wall Street analysts expect Global Eagle Entertainment Inc (NASDAQ:ENT) to report earnings of ($0.28) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Global Eagle Entertainment’s earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.28). The firm is expected to announce its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that Global Eagle Entertainment will report full-year earnings of ($1.47) per share for the current year, with EPS estimates ranging from ($1.48) to ($1.45). For the next fiscal year, analysts forecast that the company will report earnings of ($1.07) per share, with EPS estimates ranging from ($1.14) to ($1.00). Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Global Eagle Entertainment.
Global Eagle Entertainment (NASDAQ:ENT) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.20). The firm had revenue of $165.96 million during the quarter, compared to analysts’ expectations of $161.11 million. Global Eagle Entertainment had a negative return on equity of 370.92% and a negative net margin of 42.86%.
ENT has been the topic of several recent research reports. Zacks Investment Research raised Global Eagle Entertainment from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research note on Tuesday, July 17th. ValuEngine cut Global Eagle Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, BidaskClub raised Global Eagle Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, June 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $3.25.
ENT stock traded up $0.03 during midday trading on Friday, hitting $2.35. The stock had a trading volume of 11,599 shares, compared to its average volume of 207,460. The stock has a market cap of $242.81 million, a price-to-earnings ratio of -1.19 and a beta of 1.81. Global Eagle Entertainment has a 52-week low of $0.87 and a 52-week high of $3.59. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of -8.01.
A number of hedge funds have recently modified their holdings of the stock. Sound Point Capital Management LP purchased a new stake in shares of Global Eagle Entertainment in the first quarter worth $3,921,000. LLBH Private Wealth Management LLC lifted its holdings in shares of Global Eagle Entertainment by 59.5% during the second quarter. LLBH Private Wealth Management LLC now owns 1,339,841 shares of the company’s stock valued at $3,376,000 after purchasing an additional 499,900 shares in the last quarter. Tenzing Global Management LLC bought a new position in shares of Global Eagle Entertainment during the second quarter valued at $3,276,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Global Eagle Entertainment during the second quarter valued at $2,100,000. Finally, Phoenix Investment Adviser LLC lifted its holdings in shares of Global Eagle Entertainment by 23.8% during the second quarter. Phoenix Investment Adviser LLC now owns 338,142 shares of the company’s stock valued at $852,000 after purchasing an additional 65,008 shares in the last quarter. 73.53% of the stock is currently owned by institutional investors.
About Global Eagle Entertainment
Global Eagle Entertainment Inc provides content, connectivity, and digital media solutions for travel industry 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.
Further Reading: Trading Strategy Methods for Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Global Eagle Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Eagle Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.