Brokerages expect ViaSat, Inc. (NASDAQ:VSAT) to post sales of $386.56 million for the current quarter, Zacks reports. Five analysts have made estimates for ViaSat’s earnings, with the highest sales estimate coming in at $396.78 million and the lowest estimate coming in at $372.52 million. ViaSat reported sales of $363.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The business is expected to announce its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that ViaSat will report full year sales of $386.56 million for the current financial year, with estimates ranging from $1.59 billion to $1.66 billion. For the next year, analysts anticipate that the firm will post sales of $1.88 billion per share, with estimates ranging from $1.80 billion to $2.03 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ViaSat.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings results on Tuesday, May 23rd. The communications equipment provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. ViaSat had a net margin of 1.52% and a return on equity of 2.07%. The firm had revenue of $416.40 million for the quarter, compared to analysts’ expectations of $400.90 million. During the same period in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis.
Several research firms recently weighed in on VSAT. Royal Bank Of Canada set a $48.00 price target on shares of ViaSat and gave the stock a “sell” rating in a report on Saturday, May 6th. B. Riley restated a “buy” rating and set a $89.00 price target on shares of ViaSat in a report on Tuesday, May 30th. BidaskClub cut shares of ViaSat from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Cowen and Company upgraded shares of ViaSat from a “market perform” rating to an “outperform” rating in a report on Saturday, June 3rd. Finally, Wunderlich upgraded shares of ViaSat from a “sell” rating to a “hold” rating and set a $58.00 price target on the stock in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $76.40.
Shares of ViaSat (VSAT) traded up 1.18% during midday trading on Friday, hitting $67.72. 303,250 shares of the stock were exchanged. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 150.49 and a beta of 0.60. The firm’s 50 day moving average is $66.88 and its 200-day moving average is $66.07. ViaSat has a 1-year low of $61.85 and a 1-year high of $82.19.
In other ViaSat news, Director Jeffrey M. Nash sold 5,000 shares of ViaSat stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $71.76, for a total value of $358,800.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $358,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in VSAT. Guggenheim Capital LLC raised its stake in ViaSat by 40.4% in the fourth quarter. Guggenheim Capital LLC now owns 18,115 shares of the communications equipment provider’s stock valued at $1,199,000 after buying an additional 5,211 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in ViaSat by 13.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 82,082 shares of the communications equipment provider’s stock valued at $5,435,000 after buying an additional 9,925 shares during the period. Tudor Investment Corp Et Al acquired a new stake in ViaSat during the fourth quarter valued at about $265,000. Two Sigma Investments LP acquired a new stake in ViaSat during the fourth quarter valued at about $2,822,000. Finally, Menta Capital LLC acquired a new stake in ViaSat during the fourth quarter valued at about $1,258,000. 95.18% of the stock is currently owned by institutional investors and hedge funds.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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