$414.42 Million in Sales Expected for ViaSat, Inc. (VSAT) This Quarter
Equities analysts predict that ViaSat, Inc. (NASDAQ:VSAT) will announce sales of $414.42 million for the current quarter, Zacks reports. Four analysts have issued estimates for ViaSat’s earnings, with estimates ranging from $410.20 million to $420.20 million. ViaSat reported sales of $399.16 million during the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The company is scheduled to report its next earnings results on Tuesday, November 14th.
On average, analysts expect that ViaSat will report full year sales of $414.42 million for the current financial year, with estimates ranging from $1.63 billion to $1.66 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.90 billion per share, with estimates ranging from $1.80 billion to $2.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow ViaSat.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by $0.03. The firm had revenue of $380 million for the quarter, compared to analysts’ expectations of $384.29 million. ViaSat had a return on equity of 2.07% and a net margin of 1.52%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share.
A number of analysts have issued reports on VSAT shares. B. Riley set a $89.00 target price on ViaSat and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research downgraded ViaSat from a “hold” rating to a “sell” rating in a research note on Friday, May 26th. Cowen and Company raised ViaSat from a “market perform” rating to an “outperform” rating in a research note on Saturday, June 3rd. TheStreet raised ViaSat from a “c” rating to a “b-” rating in a research note on Tuesday, May 23rd. Finally, Royal Bank Of Canada set a $48.00 target price on ViaSat and gave the stock a “sell” rating in a research note on Saturday, May 6th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $76.45.
ViaSat (NASDAQ:VSAT) opened at 60.50 on Thursday. The firm’s 50-day moving average is $65.85 and its 200 day moving average is $65.65. ViaSat has a 1-year low of $57.75 and a 1-year high of $82.19. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 134.44 and a beta of 0.68.
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In related news, insider Kevin J. Harkenrider sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $66.07, for a total transaction of $1,321,400.00. Following the completion of the transaction, the insider now directly owns 24,004 shares in the company, valued at approximately $1,585,944.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $64.78, for a total value of $45,346.00. Following the transaction, the director now owns 8,700 shares of the company’s stock, valued at $563,586. The disclosure for this sale can be found here. Insiders have sold a total of 26,400 shares of company stock valued at $1,771,886 over the last three months. Corporate insiders own 7.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in VSAT. Neuburgh Advisers LLC boosted its position in shares of ViaSat by 20.5% in the first quarter. Neuburgh Advisers LLC now owns 1,600 shares of the communications equipment provider’s stock worth $102,000 after buying an additional 272 shares during the period. Quantbot Technologies LP purchased a new position in shares of ViaSat during the first quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ViaSat by 13.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 216 shares during the period. Glen Harbor Capital Management LLC boosted its position in shares of ViaSat by 20.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,200 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 374 shares during the period. Finally, Independent Portfolio Consultants Inc. purchased a new position in shares of ViaSat during the first quarter worth approximately $163,000. Institutional investors own 94.17% of the company’s stock.
ViaSat Company Profile
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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