Northland Securities analyst Greg Gibas maintained a Buy rating on Global Eagle (ENT) today and set a price target of $1.50. The company’s shares closed yesterday at $0.82, close to its 52-week low of $0.42.
Gibas wrote:
“We continue to like ENT’s improved liquidity positioning, IFC & IFE growth prospects and additional room for profitability and cash flow improvement. Key Points ENT reported Q2:19 revenue of $157.5M, compared to our $165.3M estimate and the Street’s $165.1M. Connectivity revenues of $83M increased 1.1% YoY, benefiting from solid equipment revenue growth from additional aircraft and marine vessel installations which balanced out the company’s first full quarter of negative impact on connectivity service revenues from the out of service 737 MAX aircraft. Excluding the MAX impact, Connectivity revenues would have increased ~3.4% YoY.”
Gibas has an average return of 27.9% when recommending Global Eagle.
According to TipRanks.com, Gibas is ranked #4331 out of 5247 analysts.
Currently, the analyst consensus on Global Eagle is a Moderate Buy with an average price target of $1.50.
See today’s analyst top recommended stocks >>
Based on Global Eagle’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $37.61 million. In comparison, last year the company had a GAAP net loss of $45.91 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Global Eagle Entertainment, Inc. engages in the provision of content, connectivity and digital media solutions for airlines. It operates through the Media and Content, and Connectivity business segments. The Media and Content segment consists of licensing fees paid to acquire content rights for the airline industry.
