Gilat Satellite Networks (NASDAQ:GILT) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Gilat Satellite Networks (NASDAQ:GILT) posted its earnings results on Wednesday. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06, Zacks reports. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. The firm had revenue of $117.69 million during the quarter, compared to analyst estimates of $112.19 million. Gilat Satellite Networks updated its FY 2025 guidance to EPS.

Gilat Satellite Networks Stock Performance

NASDAQ GILT traded down $0.48 on Friday, reaching $11.76. The stock had a trading volume of 874,729 shares, compared to its average volume of 590,284. The stock has a market cap of $672.87 million, a P/E ratio of 30.16 and a beta of 0.62. Gilat Satellite Networks has a 12-month low of $4.86 and a 12-month high of $15.24. The business’s 50-day moving average price is $12.90 and its 200 day moving average price is $9.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP lifted its holdings in Gilat Satellite Networks by 334.4% in the third quarter. Quantbot Technologies LP now owns 12,067 shares of the communications equipment provider’s stock valued at $157,000 after acquiring an additional 9,289 shares during the period. Envestnet Asset Management Inc. acquired a new position in Gilat Satellite Networks during the third quarter worth about $273,000. Mackenzie Financial Corp acquired a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at approximately $294,000. Franklin Resources Inc. purchased a new stake in Gilat Satellite Networks during the third quarter worth $347,000. Finally, Cetera Investment Advisers purchased a new position in shares of Gilat Satellite Networks in the second quarter valued at $191,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GILT has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Wednesday, October 8th. Needham & Company LLC raised their price objective on shares of Gilat Satellite Networks from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday. Wall Street Zen cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Zacks Research cut Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.00.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.