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

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

Shares of NASDAQ:ENT traded down $0.04 during mid-day trading on Friday, reaching $0.59. The stock had a trading volume of 1,027,600 shares, compared to its average volume of 593,243. Global Eagle Entertainment has a twelve month low of $0.42 and a twelve month high of $2.80. The firm has a 50 day simple moving average of $0.68 and a two-hundred day simple moving average of $0.71. The firm has a market cap of $57.55 million, a PE ratio of -0.23 and a beta of 1.16.

A number of brokerages recently weighed in on ENT. ValuEngine downgraded shares of Global Eagle Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Northland Securities reiterated a “buy” rating and issued a $1.50 price target on shares of Global Eagle Entertainment in a research report on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of Global Eagle Entertainment from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Two 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 company presently has an average rating of “Hold” and a consensus price target of $1.14.

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In other news, Director Ronald Steger bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average cost of $0.66 per share, with a total value of $33,000.00. Following the completion of the purchase, the director now owns 309,379 shares of the company’s stock, valued at $204,190.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David B. Wyshner bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $50.37 per share, with a total value of $100,740.00. Insiders purchased 102,000 shares of company stock valued at $164,990 over the last three months. 8.70% of the stock is owned by company insiders.

About Global Eagle Entertainment

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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