Global Eagle Entertainment (NASDAQ:ENT) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Global Eagle Entertainment (NASDAQ:ENT) posted its quarterly earnings results on Thursday. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06), Fidelity Earnings reports. The firm had revenue of $169.89 million for the quarter, compared to analyst estimates of $159.33 million.

Shares of ENT stock traded down $0.04 during trading hours on Friday, hitting $0.59. The company had a trading volume of 1,027,600 shares, compared to its average volume of 593,243. The company’s fifty day moving average is $0.68 and its 200 day moving average is $0.71. The stock has a market capitalization of $57.55 million, a PE ratio of -0.23 and a beta of 1.16. Global Eagle Entertainment has a fifty-two week low of $0.42 and a fifty-two week high of $2.80.

Several research firms have recently weighed in on ENT. ValuEngine cut shares of Global Eagle Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Zacks Investment Research cut shares of Global Eagle Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, October 14th. Finally, Northland Securities reissued a “buy” rating and issued a $1.50 price target on shares of Global Eagle Entertainment in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $1.14.

In related news, Director Ronald Steger bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average cost of $0.66 per share, with a total value of $33,000.00. Following the transaction, the director now directly owns 309,379 shares of the company’s stock, valued at approximately $204,190.14. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David B. Wyshner bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $50.37 per share, for a total transaction of $100,740.00. Insiders purchased a total of 102,000 shares of company stock worth $164,990 over the last ninety days. Insiders own 8.70% of the company’s stock.

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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Earnings History for Global Eagle Entertainment (NASDAQ:ENT)

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