ViaSat (NASDAQ:VSAT) posted its earnings results on Thursday, November 7th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.17, Fidelity Earnings reports. The company had revenue of $592.26 million for the quarter, compared to analysts’ expectations of $568.66 million. ViaSat had a negative return on equity of 0.83% and a negative net margin of 0.72%.
Shares of VSAT stock traded down $0.21 during trading hours on Friday, hitting $73.50. 165,473 shares of the company’s stock traded hands, compared to its average volume of 338,324. The stock’s fifty day simple moving average is $71.10 and its two-hundred day simple moving average is $79.24. ViaSat has a 12-month low of $55.93 and a 12-month high of $97.31. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of -65.04 and a beta of 0.83. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.87.
In related news, insider Melinda Michele Kimbro sold 6,250 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $79.81, for a total value of $498,812.50. Following the completion of the transaction, the insider now directly owns 9,306 shares in the company, valued at approximately $742,711.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Stenbit sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.90, for a total transaction of $97,375.00. Following the completion of the transaction, the director now owns 2,850 shares of the company’s stock, valued at $222,015. The disclosure for this sale can be found here. Insiders have sold 28,150 shares of company stock valued at $2,174,114 over the last quarter. Company insiders own 7.60% of the company’s stock.
Several analysts recently issued reports on VSAT shares. BidaskClub cut ViaSat from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 23rd. Zacks Investment Research cut ViaSat from a “strong-buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a research note on Saturday, November 16th. Raymond James upgraded shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Friday, August 9th. Needham & Company LLC lowered their price objective on shares of ViaSat to $90.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, ValuEngine lowered shares of ViaSat from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. ViaSat currently has a consensus rating of “Hold” and a consensus price target of $95.14.
Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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